Deutsche Bank's North American chief executive, Jacques Brand, is leaving the German lender to join boutique investment bank PJT Partners, according to an announcement by Deutsche Bank and people familiar with the matter.

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.