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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 Jü rgen Fitschen, said in the statement, which was posted on Deutsche Bank's website, that a successor would be named "in due course."

Mr. Brand didn't respond to requests for comment. His career at Deutsche Bank goes back to 1990, when he joined Bankers Trust, the U.S. lender bought by Deutsche Bank in 1999.

For much of his time at the bank, he has been heavily focused on corporate finance.

As Deutsche Bank's North American head, Mr. Brand also was named chairman of the lender's newly created intermediate holding company. Banking regulators in the U.S. are increasing their oversight of foreign banks' U.S. operations, requiring the formation of domestic holding companies to be separately capitalized and to document detailed financial reporting and risk controls to U.S. authorities.

Mr. Brand is leaving the bank as regulatory demands on Deutsche Bank become more onerous in Europe as well, and as the lender, like other European investment banks, struggles to manage a complex restructuring amid challenging market conditions.

In January, the Frankfurt-based bank said it lost â,¬6.77 billion ($7.81 billion) in fiscal 2015, its first annual loss since 2008.

Mr. Cryan took over last summer and in the fall unveiled a companywide reorganization and plans to slash costs and exit some businesses.

PJT is run by former Morgan Stanley investment banker Paul J. Taubman. The company went public in October 2015. Its largest shareholder, according to recent public filings, is Stephen Schwarzman, chairman and chief executive of Blackstone Group LP, who acquired the stake when PJT became publicly listed with a spinout of Blackstone's advisory business.

PJT has advised companies including Comcast Corp. and Yum Brands.

Mr. Brand will be based in New York and is expected to advise on a range of deals including those involving real estate and private equity, according to a person briefed on the role.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com and Jenny Strasburg at jenny.strasburg@wsj.com

(END) Dow Jones Newswires

May 02, 2016 22:45 ET (02:45 GMT)

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