Deutsche announced that Michael Morley has stepped down as the chief executive of Deutsche Bank's (DB) UK wealth management business. Morley retires from executive management after a 42-year in financial services, including CEO roles at Coutts and Barclays Wealth. He will be replaced in his role by current head of UK coverage James Whittaker.

Subject to regulatory approval, Whittaker will take over as chief executive of DB UK Bank Limited, as well as head of the firm's International Private Bank (IPB) business in the UK.