Deutsche Bank's latest re-organisation in the wake of departures by senior capital markets figures includes the hiring of two key bankers from Merrill Lynch, the number one bond underwriter in the US.

Deutsche has hired Dan Campbell, previously Merrill Lynch's global head of preferred trading and a Merrill veteran of 16 years, to be its global head of hybrid capital products, based in New York. He will oversee the supply of Tier 1 and other hybrid capital products to Deutsche Bank's clients.