Michael Burke has stepped down as the head of Deutsche Bank U.S. Private Client Services, and two regional heads have succeeded him.
Mr. Burke had been managing director and head of the private client business since joining the Deutsche Bank AG arm in September 2006. A spokeswoman for the company confirmed his departure Monday.
Haig Ariyan, the New York regional executive, is now overseeing the Eastern region, which includes Atlanta, Baltimore, Boston, Florida, Greenwich, Conn., New York, Philadelphia, Washington, and Winston-Salem, N.C., for the private client business.
Phil Waxelbaum, the Los Angeles regional executive, is overseeing the Western region, which includes Chicago, Dallas, Houston, Los Angeles, and San Francisco.
Mr. Ariyan and Mr. Waxelbaum will report to Thomas Bowers, the head of the U.S. private wealth management operation, which includes the private client business and Deutsche Bank's U.S. private bank.
The new structure is similar to the one at the U.S. private bank.
A source familiar with the matter said that Mr. Burke made a personal decision to leave Deutsche Bank, and that he plans to return to Washington to pursue other interests.