Deutsche Bank has hired Antonio Rodriguez-Pina, as its new head of Spain. He was formerly chairman of the Spanish business at Credit Suisse First Boston. He will start within weeks and replaces Juan Carlos Garay.

The move prompted speculation that he may be joined by Ismael Picon, until this month the chief executive officer of Santander Asset Management. Picon's experience working with Santander's retail network covers the one major gap in Rodriguez-Pina's experience.