Deutsche Bank has given the role of heading up investment-grade sales to Helen Doyle, a saleswoman on the desk, replacing former chief Tony Britton, according to a member of the firm's sales team. Doyle confirms that she now heads the group, but declined comment on why she replaced Britton. Brian Reid, newly promoted head of all credit sales, did not return calls. Britton was on vacation and could not be reached.
Speculation is that Britton was removed from the leadership position because Anshu Jain, head of Global Markets at the German bank, wants his own lieutenants in place. Though Britton is widely seen as a top producer who is popular with his accounts, he was recruited several years ago under Grant Kvalheim, former ceo of Deutsche Bank's investment banking unit who has since moved on to Barclays Capital. Jain has reportedly been consolidating power at Deutsche Bank and he, like Doyle, comes from the sales group at Merrill Lynch. Jain did not return calls.