Deutsche Bank Hires Tusa, Collingridge for U.K. Broking

Deutsche Bank AG hired Andrew Tusa and Neil Collingridge to bolster its U.K. corporate broking team.

Tusa, who is joining from Bank of America Corp., will become co-head of U.K. corporate broking, leading the group with Charles Wilkinson, Deutsche Bank said in a statement Wednesday. Collingridge, joining from Jefferies Group LLC, will become vice chairman of the unit.

Co-Chief Executive Officers Anshu Jain, 52, and Juergen Fitschen, 66, who are stepping down to be replaced by supervisory board member John Cryan, in April outlined plans to scale back certain parts of investment banking as part of the firm’s strategic overhaul. The bank has said it will update investors with details on the cuts by the end of July.

Corporate brokers advise companies and aid their relations with investors for token fees, in the expectation of winning mandates on more lucrative business, such as arranging debt sales or initial public offerings.