Deutsche Bank Creates Fixed-Income Unit Run by Amrolia, Felson

Deutsche Bank AG (DBK), Germany’s biggest bank, is combining its fixed-income and foreign-exchange businesses to be overseen by Zar Amrolia and Wayne Felson.

The unit will be called fixed income and currencies and the plan was announced in a memo to staff on Nov. 16, according to a spokeswoman for the bank in London.

Deutsche Bank is firing staff and reviewing businesses as Europe’s sovereign-debt crisis curbs trading and rising capital demands weigh on profitability. The fixed-income business, which has traditionally been the bank’s biggest revenue contributor, will be a “drag” on return-on-equity under the latest round of capital requirements by the Basel Committee on Banking Supervision, co-Chief Executive Officer Anshu Jain has said.

Amrolia, 49, currently heads global foreign exchange while Felson, 41, runs rates and credit trading. Financial News reported their appointments earlier today.


To contact the reporters on this story: Elisa Martinuzzi in Milan at; Nicholas Comfort in Frankfurt at

To contact the editor responsible for this story: Edward Evans at

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