Deutsche Bank sets up a new lineup for its investment bank and global markets
Deutsche Bank has set up two management committees to run its Corporate and Investment Banking and Global Markets units, as part of its ongoing restructuring plans to cut costs and improve profitability. The bank is splitting its investment bank in two following increasing pressure from its shareholder for reform. Another part of the new plan is to cut thousands of jobs over the next two years, shutting operations in 10 countries and to reduce the number of investment banking clients.

A statue is pictured in front of the former head quarters of Germany's largest business bank, Deutsche Bank in Frankfurt, January 28, 2013 REUTERS/Kai Pfaffenbach

Deutsche Bank has a brand new corporate and investment banking division and has made a series of appointments to lead it.

The global division will be run by Jeff Urwin, who will have 15 people on the executive committee below him, according to a person familiar with the situation.

Under him, Paul Stefanick will run the Americas business, James McMurdo will lead in Asia-Pacific, while ex-Goldman Sachs banker Alasdair Warren will join as head of the EMEA region next year.

Mark Hantho will head up the global equities business while Mark Fedorcik will lead the debt business.

The Financial Times reported the moves earlier.

The move comes in the wake of an unprecedented leadership overhaul announced last month by CEO John Cryan.