Jonny Potter has been the worldwide chief of equity sales at Deutsche Bank. He is now leaving the bank. This was revealed to Forbes by people closer to him.
Jonny Potter took up this senior position towards the end of 2015 when his colleague Derek Capanna resigned and took up a new job at the UBS. By the time we went into press, the Deutsche Bank spokesperson had not released any comments on this issue.
In the recent past Deutsche Bank has been reducing the number of clients as well cutting back on the fixed income as part of resizing efforts. Instead the bank has been heavily investing in equities business. This is an effort towards more participation in prime finance. The latter is a business that deals with hedge funds.
Basically, the equity business by Deutsche Bank has not been doing well. This may have been due to its poor performance even at the Wall Street. To illustrate this point, the Deutsche Bank’s equity sales had gone down from 2.8 billion Euros to 2.1 billion Euros during the first nine months of the year.
We are looking forward to the fourth quarter earnings report on 2nd February 2017.
