Paul Croft, chief operating officer of global markets, Japan at Deutsche Bank in Tokyo, has resigned. Croft said he is stepping down to support his wife's business interests in California. He declined to comment on who would be replacing him, but noted that he would remain at the bank for a while to ensure a smooth transition for his successor.
Croft was promoted to coo last September and was previously head of derivatives trading, Japan. As coo, he retained responsibility for Deutsche Bank's fixed-income derivatives business and also headed debt capital markets. At Deutsche Bank he reported to John Macfarlane, chief country officer, Japan. Calls to Macfarlane were referred to a spokeswoman in Tokyo, who declined comment. A market official in Hong Kong said that bonuses were recently paid at Deutsche Bank, so the timing for the move makes sense.
