WestLB has confirmed that two Latin American bankers, Carl Adams, head of emerging markets, structured and corporate finance for Latin America along with Isaac Deutsch, executive director in the same regional division, are leaving the bank. Both bankers were based in New York.
The departures follow the bank's decision to restructure its operations according to sector rather than geographical focus.
Adams will remain at the bank for a 60-day period, but Deutsch has already left his position.
A spokesperson explains to GTR that although the bank will maintain its level of interest in the Latin America region, there will no longer be a Latin America-specific group.
"WestLB has a sector-specific focus, with those operating in various regions reporting to a head of infrastructure or head of global energy, for example. Latin America was the only region where this was not happening. With these recent developments, Latin American operations have been brought in line with the rest of the bank's global business.”
Adams has been with WestLB in New York since 1999. It is not known where Adams or Deutsch will move to next.
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