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Tuesday, March 20, 2012

Parker to Step Down from Deutsche's Executive Committee

News summary by MFWire's editors

Deustche Bank's asset management head, Kevin Parker, will step down from his role as a member of the bank's group executive committee this spring. The change will take effect May 31, the day of Deutsche Bank's annual general meeting.

Pensions & Investments picked up on the announcement from Deutsche Bank.

Parker joined Deutsche Bank in 1997 and has served as head of asset management since 2002.

Parker will be one of two executives bidding adieu to the committee. The other is Pierre de Weck, head of private wealth management.

At the same time, Deutsche Bank is expanding its executive committee to 18 members from the current 12. Click here to view the press release.

Word of Parker's impending departure from the executive committee comes three weeks after Deutsche Bank said it has entered into exclusive talks with Guggenheim Partners regarding the sale of a portion of its asset management business, including its mutual fund business in the Americas. 

Edited by: Armie Margaret Lee

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