Deutsche Bank has promoted Pavan Sukhdev to chief operating officer for emerging markets following the departure of Philip Perkins, who is joining Delaware Investments, a US asset manager.

Sukhdev, who will be based in London, assumes his new role immediately, reporting to David Zezza, global head of emerging markets at Deutsche. He replaces Perkins, who is leaving to become a senior vice-president in the mortgage-backed securities team at Delaware.