Deutsche Bank AG announced on Friday the appointment of two executives as Global Co-Heads of its Mergers and Acqusitions division.

Henrik Aslaksen and Brett Olsher will replace the current co-heads, Tony Burgess and Jim Stynes. Burgess is retiring from the bank. Stynes will become the Global Chairman of M&A.

Aslaksen was previously the bank's co-head of M&A for Europe. Olsher has been with the company since 2001. He was the Co-Head of Global Industry Coverage in 2007.

Henrik and Brett are two outstanding bankers who have strong relationships with many of our key clients and exceptional track records on major deals, said Michael Cohrs, the Head of Global Banking at Deutsche Bank.

Both new appointees will remain in London, reporting to Cohrs.

American Depositary Receipts of Deutsche Bank AG fell $1.79, or 1.53 percent to close at $115.32.