Steve Bellotti is leaving as head of capital markets at Dresdner Kleinwort Wasserstein. He will be replaced by Jens-Peter Neumann, an HVB Group executive and former colleague of Stefan Jentzsch, head of corporate and investment banking at DrKW.

DrKW told Financial News today that Bellotti is "leaving to pursue other interests". He joined the German bank in September 2004 to oversee its three co-heads of capital markets: Tarek Mahmoud, David Wenman and Erich Pohl.