Deutsche’s global head of FX set to retire

Kevin Rodgers, global head of foreign exchange at Deutsche Bank, is set to retire from the industry in June to pursue other personal interests.

The move is understood not to be related to the ongoing global investigation into the alleged manipulation of the WM/Reuters benchmark, according to a person familiar with the situation.

"Kevin Rodgers has made a personal decision to retire from the industry to pursue other ambitions, including academia and music. He informed us of his resignation earlier this year and he will leave in June following a transition period," the bank said in a statement.

Based in London, Rodgers has been in his current role since September 2012, following Zar Amrolia's promotion to head of markets electronic trading. Rodgers reports to Amrolia, who has since become global co-head of fixed income and currencies.

Prior to his appointment as global head of FX, Rodgers was global head of forex spot, electronic trading and derivatives. He has held other senior positions at the bank, including global head of FX trading and global head of energy trading. Rodgers sits on the board of the global FX division of the Global Financial Markets Association, as well as the Bank of England's Foreign Exchange Joint Standing Committee.

His decision to leave the industry brings to a close a 24-year career in financial markets, which has seen Rodgers spend 15 of those years at Deutsche. He moved to the bank when his previous employer Bankers Trust merged with Deutsche in 1999, where he had run emerging markets structured products and traded FX options. Before Bankers Trust, he worked at Merrill Lynch in FX after moving into the industry following a spell working in the North Sea oil industry.

A replacement is set to be announced at the bank this summer.