Deutsche Revamps Research

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Deutsche Bank has split parts of its debt and equity research in a global reorganization aimed at making the business more cost-effective. The move is Deutsche's second revamp in less than two years and reverses part of the previous reshuffle, in which the bank combined equity and debt research.

The latest reshuffle will see the German bank's research division organized along three lines: global company research, global equity strategies and quantitative methods, and global fixed-income strategies and economics.

While company research remains a single unit, the bank has separated elements of its non-company specific equity and debt research. Previously, the bank split its global research into four areas covering companies, markets strategy, macro research and quantitative strategy.

David Folkerts-Landau, head of global research, said the move "will allow us to respond more flexibly to changing business and market priorities, and to focus more directly on the monetization of research through the continuous development of new products."

The move comes as banks have been under pressure to justify the value of their research in a market that has become highly competitive in the wake of legislative changes.

The reshuffle sees Guy Ashton step up to become head of global company research after previously overssing the business in Europe. Stuart Parkinson, previously chief operating officer of global research, becomes head of the equity strategies and quantitative methods unit. Marcel Cassard, former head of global macro research, now oversees the fixed income team.

Ross Jobber, associate director of company research in the previous set-up, replaces Parkinson as chief operating officer.