Deutsche Bank’s global head of equities is expected to leave the bank, the latest move in a planned downsizing of the German lender’s investment bank, according to people familiar with the matter.

Recently, Deutsche Bank executives had discussed a possible senior role for Peter Selman in a planned non-core unit, also known as a bad bank, expected to house long-dated derivatives and other positions earmarked for sale or wind-down, some of the people said. But they said Selman instead indicated in recent days that he plans to leave.