Societe Generale named Degenhard Schroeren as the head of leveraged finance for Germany, Austria and Central and Eastern Europe, according to reports.

He replaces Rolf Holtmann, who has left the bank. Bank representatives were not immediately available for comment.

Schroeren was also named to the French bank’s corporate and investment banking global leveraged finance executive committee.

Societe Generale recently saw the departure of Mickael Le Gargasson, its director of acquisition and leveraged finance for the Asia Pacific region.

The French bank said in September that it would cut businesses, including leveraged finance, among other businesses where it saw limited growth opportunity. It also said that it would seek to cut its corporate and investment banking groups.

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