FRANKFURT - Deutsche Bank AG is expected to announce several senior appointments this week as it prepares to split its business into two units focusing on investment banking and asset management.
The German banking giant will split its global markets unit, which includes fixed income and foreign exchange, into three divisions reporting up to Josef Ackermann, head of investment banking. Mr. Ackermann is to become chairman of Deutsche Bank in 2002.
According to a Deutsche Bank official, Thomas Gahan is set to be tapped as head of the bank's loan products group, including leverage finance, high-yield, and commercial bank lending. Grant Kvalheim, meanwhile, will continue to run global debt capital markets, working with investment banking. Anshu Jain will be charged with running all other functions in the old global markets unit, including sales, trading, and foreign exchange. He previously headed sales, over-the-counter derivatives, and emerging markets.
Meanwhile, the bank plans to give additional duties to Mayo Shattuck 3d, who co-heads its investment banking unit, the official said.
Deutsche Bank recently lost its head of global markets and global equities. Edson Mitchell , who was killed in a plane crash on Dec. 22, had been slated to succeed Mr. Ackermann as head of investment banking. A Deutsche Bank spokeswoman declined to comment.