Deutsche Bank has reshuffled its equity capital markets team to generate more investment banking fees from Asia and bolster its position as one of the top underwriters in Europe.

François Wat, former chairman of ECM, who has been at the bank since 1995, is relocating to Hong Kong as chairman of ECM in Asia Pacific, a new role. John Lydon, former head of UK ECM origination, has taken over as co-head of ECM in Hong Kong, a job he will share with Ashok Pandit.