- Batubay Ozkan helped oversee Wiswell, who was fired in August
- Ozkan led Russian markets from 2009 until mid-2015 London move
Batubay Ozkan, who oversaw Deutsche Bank AG’s Russian securities trading operations, has left as the German lender retreats in the country amid probes into alleged money laundering, according to people with knowledge of the move.
Ozkan, who was head of Russia and Commonwealth of Independent States markets from March 2009 until last year, departed in recent weeks, the people said, asking not to be identified because the information is private. Ozkan moved to London from Moscow last year to focus on his role as head of central and eastern European debt trading, according to a May 2015 press release.
As part of his former responsibilities, Ozkan was one of two managers overseeing Tim Wiswell, whom Deutsche Bank has said improperly helped clients move billions of dollars out of Russia. Wiswell also reported to Max Koep, the head of equities for central and eastern Europe, the Middle East and Africa, who remains employed by Deutsche Bank in London, the people said.
A Deutsche Bank spokesman in London declined to comment, while Ozkan was unreachable by phone. Koep didn’t immediately respond to an e-mail and a person who answered the phone at his desk said he wasn’t available. Ozkan and Koep haven’t been accused of wrongdoing.
Regulators in London and New York are investigating suspicious transactions that moved as much as $10 billion out of the country between 2012 and 2014, people with knowledge of the discussions have said. The Frankfurt-based lender said in 2015 that it was investigating a “significant volume” of trades by clients in Moscow and London that may have been illegal.
Wiswell, the former head of Russian equities, was among the people placed on leave and subsequently fired during the probe. He lost a wrongful-dismissal lawsuit against Deutsche Bank in February.
Pavel Teplukhin, who heads Russian operations, will step down in August as the bank scales back its local business. Raj Tanna, its chief operating officer at the unit, has also left.