MOSCOW: The former head of Deutsche Bank's Russian unit is to take up a new regional role heading up the bank's eastern Europe operations, an investment banking source said on Monday.
Igor Lojevsky, previously chief country officer of Deutsche Bank in Russia, will become vice chairman in charge of the eastern Europe division in April, the source said. He will be based in London and will oversee the bank's operations in countries including Russia, Ukraine and Poland.
In September Deutsche appointed Pavel Teplukhin as its new chief country officer. Teplukhin was a co-founder of brokerage
Troika Dialog which was in 2011 bought by Russia's top bank Sberbank for $1 billion.
Lojevsky was to support the team during the months of transition, Deutsche said at the time. Lojevsky became chief country officer of Russia in 2008 after joining from Dresdner Bank.
Deutsche has been cutting jobs, part of an industry-wide retrenchment as banks slash costs to counter tougher regulations squeezing margins, and said in December that a radical restructuring plan would hit fourth-quarter profits as it cleans up its balance sheet.
Russia has not been immume and a dearth of deals has pushed some foreign bankers away from Moscow.
Credit Suisse is to move its Moscow investment banking advisory operation to London as part of a cost-cutting drive, a source familiar with the matter recently said.
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