A spokeswoman for the bank confirmed the departure of Mr Burke. He was formerly with Morgan Stanley and appointed as head of Deutsche Bank Alex Brown, the US private client services division of Deutsche Bank Securities in 2006.

The bank said it had created a new regional management structure, similar to the model that exists in its US private bank.

Mr Ariyan has been appointed PCS regional heads for the east region, which includes Atlanta, Baltimore, Boston, Florida, Greenwich, New York, Philadelphia, Washington and Winston Salem. Mr Waxelbaum has been appointed regional head of the west region including Chicago, Dallas, Houston, Los Angeles and San Francisco.

Mr Ariyan and Mr Waxelbaum will report to Tom Bowers, head of US private wealth management. Mr Ariyan was previously New York regional executive, and Mr Waxelbaum was Los Angeles regional executive.

Before Mr Burke came to the group in 2006 he was managing director and director of national sales for Morgan Stanley's Global Wealth Management group.

Deutsche Bank has said previously the private client services business is a core strategic component of its global wealth management strategy.