Deutsche Bank has appointed Tom Patrick as the new CEO for its US business, replacing Bill Woodley who will leave after a 19-year stint at the bank.

“Effective immediately, Tom Patrick will join the Board of DB USA Corporation, be appointed CEO of that entity and take on additional responsibilities as CEO of the Americas region, which remains an important source of growth for Deutsche Bank,” Deutsche Bank CEO John Cryan said in a memo.

Patrick currently serves as head of global equities and co-head of CIB Americas at Deutsche Bank, roles which he will retain in addition to his new responsibility. He will report to Cryan in the new role.

Prior to joining Deutsche Bank in 2012, Patrick spent 18 years at Bank of America Merrill Lynch.

“I would like to personally thank Bill for his work establishing DB USA Corporation and for his 19 years of service to our bank. Throughout his time at Deutsche Bank he exhibited the type of character and leadership we desire for all of our employees,” Cryan added.

Woodley served in various roles including deputy CEO of the Americas, COO of Regional Management and COO of Asia since joining Deutsche Bank in 1998.

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