Deutsche's institutional coverage heads swap roles

Deutsche's institutional coverage group (ICG) has announced three new heads in the region.

Henry Richotte, previously head of ICG Asia, will now head ICG Japan. Richotte has worked with the firm since 1995. On a country level, he will now report to Eiji Nakai, head of global markets in Japan.

Taking over Richotte's former role as head of ICG Asia is David Arnold. Arnold was previously head of ICG in Australia and has been with the firm since 1995. He will report to Asian head of global markets Loh Boon-Chye.

Replacing Arnold in Sydney is Wayne Howe who was previously head of sales for the relative value group. He reports to Sydney based head of global markets, Michael Ormaechea.

On a business line basis all ICG heads will report to Jonathan Paul, the firm's joint global head of ICG.

Commenting on the new appointments Paul says, "These are important appointments for the development of our franchise and the fact that we have been able to effect these senior management changes through internal candidates shows the depth of resource and talent in our Asia Pacific franchise."