Deutsche Bank moved to beef up its equities business with three new appointments on Wednesday as its new chief embarks on an overhaul of the firm, The Post has learned.
Jonny Potter, previously the co-head of equity sales along with Derek Capanna, was named global head of the business, according to a person familiar with the matter. Capanna left last month to join UBS.
Deutsche also named John O’Brien and Craig Bench to lead the equities business in the US. The co-heads will report to Potter and Tom Patrick, head of equities Americas, the person said.
Deutsche is the eighth-largest bank by volume in sales of stocks and other exotic financial products that are linked to stock options, with about 5.5 percent of the market, according to Bloomberg data.
Last month, John Cryan, the new co-chief executive, pledged to downsize and clean up the German banking giant after a series of blows to its reputation and run-ins with regulators.
“We do not have to be all things to all people,” Cryan said in a letter to employees. “I am not going to tell you that all will be sweetness and light in the coming months.”
Cryan succeeded Anshu Jain, who stepped down amid criticism from regulators and investors.
Separately, the bank fired two senior traders, Ben Solomon, head of securitized-products trading, and Ashish Jain, head of securitized-products sales in the Americas, according to a Wall Street Journal report.
Solomon and Ashish Jain had failed to supervise junior traders’ communications with clients, violating company policy, the report said. The traders were dismissed in June.
A Deutsche spokeswoman declined to comment.