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Two senior Deutsche Bank execs leave firm

Source: Reuters - Tue 6th Apr 2010

Two senior executives of German banking giant Deutsche Bank, who headed units that dealt with investment grade debt and distressed loan sales, have quit the firm, the New York Post said, citing sources familiar with the matter.

Gerry Walker, who headed a unit that sells loans, bonds and distressed debt to hedge funds, has resigned, the Post said.

Walker, who joined Deutsche Bank in August last year, may join rival Bank of America Corp, the newspaper said on its website.

Also, John Karabelas, the bank's head of investment grade debt sales, has handed in his notice, sources told the paper.

A Deutsche Bank spokesperson declined to comment to the newspaper.

Some of Deutsche Bank's top performers were not happy with their compensation, saying their bonuses are smaller than rival Wall Street firms, the Post said.

Deutsche Bank and Bank of America could not be immediately reached for comment by Reuters outside regular U.S. business hours.

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