Outspoken bank analyst Mike Mayo is leaving Deutsche Bank ( DB), because the German bank tried to keep him from speaking his mind The Wall Street Journal reported Thursday.

Mayo will join boutique firm CLSA and will be replaced at Deutsche Bank by Glenn Schorr, who is leaving UBS ( UBS), the paper says. A Deutsche Bank spokeswoman declined to comment.

An internal UBS memo obtained by TheStreet.com stated that Schorr has left UBS and that Michael Carrier will assume Schorr's coverage of Morgan Stanley ( MS) and Goldman Sachs ( GS). The fate of the rest of Schorr's coverage, which includes large cap banks such as Citigroup ( C) and JPMorgan Chase ( JPM) is still to be announced, the memo says.

A UBS spokeswoman confirmed the contents of the memo.