Deutsche Bank AG's North American chief executive, Jacques Brand, is leaving the German lender to join boutique investment bank PJT Partners Inc., according to an announcement by Deutsche Bank and people familiar with the matter.
Mr. Brand, a senior Deutsche Bank director who reports directly to the lender's co-CEOs, will start at New York-based PJT this summer as a partner in its mergers and acquisition business, advising on deals, a person familiar with the matter said.
Deutsche Bank said in a statement Monday night that Mr. Brand is leaving "to pursue another opportunity," without elaborating on his plans. The bank's co-chief executives, John Cryan and Jürgen Fitschen, said in the statement, which was posted on Deutsche Bank's website, that a successor would be named "in due course."