Deutsche Bank AG, Germany’s largest lender, named Joel Roberto head of investment banking in Brazil to replace Jaime Singer.
Singer is leaving “to pursue personal projects,” a spokeswoman for the Frankfurt-based company said, asking not to be identified in keeping with company policy. Roberto’s promotion will “keep strengthening the business in Brazil,” she said.
Roberto, 46, has worked for Deutsche Bank since 2010, and was a managing director responsible for client relationships in sectors including infrastructure, telecommunications, media, logistics, technology and conglomerates. He was previously a banker at Banco Santander Brasil SA and ABN Amro Bank NV and an attorney at Skadden Arps Slate Meagher & Flom LLP.
Deutsche Bank cut employees in its Brazilian investment bank and research units last month as part of a global effort to save 4.5 billion euros ($6 billion) by 2015. The company, which has about 500 employees in Brazil including workers from outsourcing services, didn’t say how many jobs were eliminated.