LONDON: Deutsche Bank has merged its listed derivatives and markets clearing unit into its prime services arm following the departure of the unit's head Michelle Neal last month, a source with direct knowledge of the matter said.

The unit will now report to Dixit Joshi, the bank's global head of prime services.

A spokesman for Deutsche Bank declined comment.

Prime brokers provide services such as securities lending and trade clearance for hedge funds.

Neal left to join BNY Mellon as president of its markets group at the end of August.

Copyright Reuters, 2015