• Bloomberg


Kumio Tomonaga, Japan’s top retail analyst according to Institutional Investor magazine, and Tetsuro Tsusaka, a communications and trading companies analyst, have left Deutsche Bank AG’s Japanese brokerage unit.

The resignations bring the number of analysts who have left Deutsche in Tokyo since June to five. Fumiaki Sato, former head of research and an electronics analyst, quit the company in mid-June. Orlando Faulks, who was previously in charge of sales in Japan, replaced Sato as head of research.

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