Deutsche Bank CEO John Cryan announced via a post on the bank’s website that Bill Woodley, CEO of DB USA, is leaving. Tom Patrick will replace him and join the board of DB USA.

“After a long and successful career, Bill Woodley, CEO of DB USA Corporation and the Americas region, will be leaving our bank. Bill joined Deutsche Bank in 1998 and has served in a number of leadership roles including deputy CEO of the Americas, COO of Regional Management and COO of Asia,” Cryan said.

Cryan added that, effective immediately, Patrick will join the board of DB USA, be appointed CEO of that entity and take on additional responsibilities as CEO of the Americas region. In this role Patrick will report to Cryan. All Americas or U.S. heads of business divisions and infrastructure functions will report to Patrick in addition to their existing functional reporting lines.

Patrick will retain his role as head of Equities and co-head of CIB Americas and report to Garth Ritchie in that capacity. Patrick joined the bank in 2012 and previously spent 18 years at Bank of America Merrill Lynch, where he held a number of leadership positions in banking and markets.