Deutsche Bank has promoted the head of its Russia global markets division to a new position as first deputy chairman as it looks to rebuild its business in the country after a string of defections.

Yuri Soloviev retains his position as head of global markets for Russia and the CIS and reports to Charles Ryan, chief country officer and chief executive of Deutsche in Russia, Kay Haigh, head of emerging markets trading and Kerim Derhalli, head of emerging markets equities.