Deutsche Bank Promotes Nayak to Co-Head of Its Investment Bank
- Nayak’s trading unit has kept bank’s turnaround on track
- That’s helped the bank post its highest profit in a decade
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Deutsche Bank AG promoted fixed-income trading head Ram Nayak to co-lead the investment bank after his division helped keep the bank’s turnaround on track over the past years.
Nayak will share responsibility for the lender’s biggest profit and revenue engine with Mark Fedorcik, according to a memo seen by Bloomberg and confirmed by a spokesman for the German lender. Both executives will continue to report to executive board member Fabrizio Campelli, with Nayak keeping oversight of fixed-income trading.