Deutsche Bank has appointed two co-heads of mergers and acquisitions to replace Tony Burgess, who is leaving to return to his home country of Australia, and James Stynes, whom the bank has promoted to global chairman of the division.

The German bank named Henrik Aslaksen and Brett Olsher as global co-heads of its mergers and acquisitions division. The pair will remain in London and report to Michael Cohrs, head of global banking.