(Bloomberg) -- Rothschild & Co. investment banker Martin Reitz is stepping down from his operating roles as head for Germany and co-chairman of the global advisory management committee to focus on strategy and client relationships.

Reitz, who will become vice chairman of Rothschild’s global advisory business, will be succeeded by Kai Tschoeke as country head, while Martin Suter will join the global advisory unit’s management committee, according to a statement Thursday. The changes will take effect in January.

“After 14 years in various management roles in investment banking at Rothschild & Co, now is the right time for me to hand over operational responsibility,” Reitz said in the statement. “We have positioned our business very strongly to continue growing with a great team.” 

Rothschild is in the process of going private after shareholders accepted a bid by the Rothschild family and some of France’s wealthiest dynasties. The move comes after Evelyn de Rothschild, the former head of the British arm of the banking group, died almost a year ago. He and his cousin David de Rothschild, who oversaw the French arm, united the two branches in a move that was seen as a key step in remaining competitive.

Reitz, who previously held top roles at UBS Group AG’s German investment banking operations, has advised bluechip companies including Volkswagen AG and Thyssenkrupp AG.

Tschoeke, an avid cyclist, has covered various sectors including industrial companies as well as financial institutions and utilities. Suter is a private equity specialist.

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