Senior Exit from Deutsche’s FX Business

Market sources tell The Full FX that Deutsche Bank has seen another senior exit from its FX business following the departures of Lee Merchant and Rushir Sharma over the past six months.

The sources say that David Leigh, head of European FX at the bank, has left after one year in the role. Overall, Leigh has been with Deutsche Bank for more than 19 years, initially in e-FX spot trading, before stepping up to the role of co-head of e-FX spot trading in early 2013. In late 2018, he was named global head of spot and electronic FX trading, until being named to the European head role in May 2023.

Earlier this year, Lee Merchant, who was named global head of spot trading and relocated to London from Sydney in mid 2022, also left the bank after more than 25 years. Sharma was a more transient figure at Deutsche, working there for just over a year in Singapore as co-head of global FX for APAC after leaving Credit Suisse, where he was head of APAC FX trading. He joined Nomura in Singapore as global head of FX options in November 2023.

The Full FX understands that a replacement for Leigh has yet to be named by Deutsche Bank, which is going through a prolonged period of change triggered by the retirement of former global FX head Russell LaScala in April 2023.