Christian Sewing announced as new Deutsche Bank CEO
(9 April 2018 – Global) After months of rumblings Deutsche Bank’s supervisory board has replaced its CEO, John Cryan, with Christian Sewing, effective immediately.
While Mr Cryan had reduced risk and settled billion-dollar legacy misconduct cases during his tenure, several large shareholders signalled they were losing patience after he failed to restore revenue growth.
The incoming CEO Christian Sewing has been with the bank for more than 25 years, most recently as co-chief executive of the Private & Commercial Bank alongside Frank Strauss.
Deutsche Bank’s Corporate & Investment Bank will be led by Garth Ritchie, who has also been appointed to the management board as a new president, while the Private & Commercial Bank will be headed by Strauss.
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