One of Deutsche Bank’s top sales executives is leaving

Deutsche BankA man walks past Deutsche Bank offices in London December 5, 2013.REUTERS/Luke MacGregor

One of Deutsche Bank’s top sales executives is leaving.

Jonny Potter, who had been global head of equity sales, is on his way out at the bank, according to people familiar with the situation.

He was named to his current role in late 2015, when his former co-head Derek Capanna resigned and later joined UBS.

A spokesman for Deutsche Bank declined to comment.

Deutsche Bank has been resizing its markets business, cutting back in fixed income and cutting the number of clients it deals with.

The bank has been investing in the equities business, however, and has been looking to do more business in prime finance, the business which caters to hedge funds.

Still, the equities business has struggled as part of a broader slowdown in revenues across Wall Street. The bank generated €2.1 billion in equities sales and trading revenues in the first nine months of the year, down from €2.8 billion.

Deutsche Bank will report fourth quarter earnings on February 2.

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