Cai joined Deutsche in 2010 to run investment banking in China, and is currently executive chairman of corporate finance for Asia Pacific.
Deutsche Bank declined to comment, while Cai himself could not immediately be reached for comment.
Before Deutsche, Cai was a top China rainmaker at UBS AG, having earned his dealmaking reputation on some of China's earliest overseas listings while at Hong Kong investment bank Peregrine, subsequently BNP Paribas Peregrine.
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