Deutsche Bank AG named a new head of equities trading and new global co-heads of prime finance on Wednesday, as the German lender reshuffled its global stocks business following changes in its markets-division leadership on multiple levels, according to an internal memo.

Ashley Wilson and Greg Bunn were appointed co-heads of the prime finance business that handles hedge-fund clients' trades, loans them securities and provides other services to asset managers, according to the memo from Global Equities Chief Thomas Patrick. Its contents were confirmed by a spokesman. Messrs. Wilson and Bunn currently run the prime-brokerage business in Europe and the Americas, respectively.

Rick Saunders was named global head of equities trading, in addition to his role as head of equities for the European region. In Asia, Rob Ebert will remain head of equities for the region, the memo said.

The moves come a week after Deutsche Bank named Mr. Patrick to run the equities business globally. He had been North American equities chief and also oversaw equity derivatives globally.

Mr. Patrick took over the top equities job after Garth Ritchie, the former equities chief, was promoted last month to oversee all of the bank's markets businesses as part of a larger reorganization of the investment bank under Deutsche Bank's new co-chief executive, John Cryan.

Mr. Patrick's just-vacated global-equity-derivatives role is now held by Brad Kurtzman, who also is head of equities trading for the Americas, according to Wednesday's memo.

The prime-finance leadership posts now held by Messrs. Wilson and Bunn already changed hands earlier this year, when former Asia equities executive Dixit Joshi was named to run the business after the previous head left for Citigroup Inc. Mr. Joshi is now overseeing fixed-income sales.

The changes are the latest in a wide reorganization of Deutsche Bank's markets and mergers-advisory business. The bank last month split its investment bank in two, separating markets from deal-advisory, saying the move would improve client service while the lender cuts costs and narrows the scope of its overall business.

Leadership changes in equities and debt trading—core divisions for Deutsche Bank—are altering the face of the businesses for hundreds of clients. A stream of promotions and departures also has occurred in the lender's wealth and asset-management businesses, retail and investment banking and corporate finance.

Wednesday's memo said that Andy McDonnell will remain head of convertible trading, and Jonny Potter remains head of equity sales.

Write to Jenny Strasburg at jenny.strasburg@wsj.com

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(END) Dow Jones Newswires

November 18, 2015 12:45 ET (17:45 GMT)

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