Senior Deutsche Bank European equities banker Edward Sankey is leaving after almost 15 years, as planned cuts to its beleaguered equities business and the broader investment bank increasingly take a toll, according to people close to the lender.

Sankey, who is based in London as co-head of European equity capital markets and global head of equity syndicate, told colleagues Monday that he is leaving for another job, according to people familiar with an internal email he sent. He will join HSBC.