The US private wealth management arm of Deutsche Bank has hired UBS veteran James Layden to run its office in Los Angeles, Reuters reports.

In his new role Layden will replace Philip Waxelbaum, who has moved to JP Morgan, the report said. Layden joined the firm from UBS Wealth Management Americas, where he spent 19 years and most recently worked as manager of its Troy, Michigan branch, according to regulatory filings cited by the news service.

Waxelbaum, who reportedly left Deutsche Bank in January, also headed the bank's western region; he joined JP Morgan Securities in July, according to the report.

Currently, Haig Ariyan, head of the eastern region, is acting as head of the western region. Deutsche Bank has reportedly declined to comment on whether it is looking for a replacement to permanently head the western region.