Deutsche Bank continues to restructure its fund units as the bank tries to position itself in the industry. In its latest move the bank has let go of three in its marketing and sales area. The three are Jim Griffo, managing director and head of the bank's mutual fund sales, Phil Stambaugh, who headed third-party distribution and the bank's defined contribution efforts, and Chris Farrell, national account manager.

Officials at the bank have declined to comment on the move. However calls to the executive's direct lines reached disconnected voice mails.

A source at the bank said that the changes stemmed from an internal merger of units. Richard Goldman, head of institutional sales, has reportedly assumed ultimate responsibility for the duties of all three. Word out of the bank is that Kevin Granelli is now handling Stambough's day-to-day duties.  

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