Deutsche Bank aligns its management board with Strategy 2020
(25 May 2015 – Germany) Deutsche Bank has announced changes to its management board aiming to achieve its Strategy 2020 initiative.
At its meeting on 20 May the Supervisory Board of Deutsche Bank decided to realign responsibilities to enable the effective delivery of the bank’s new strategy announced on 27 April.
Anshu Jain, co-chief executive, will assume responsibility on the Management Board for Strategy & Organisational Development, the unit which will manage delivery of transforming the bank’s operating model to decisively boost efficiency, and which had reported to Stefan Krause, chief financial officer.
Krause will assume responsibility on the Management Board for Global Transaction Banking (GTB) from Jain and for the Non-Core Operations Unit (NCOU) from Jürgen Fitschen, co-chief executive.
It is also intended for Krause to join the Supervisory Board of Postbank and become its chairman pending governance approval.
As previously announced, Krause will transition his CFO role to Marcus Schenck after the Annual General Meeting.
Henry Ritchotte, chief operating officer, will in addition become chief digital officer in order to deploy digital banking technology across all businesses.
Rainer Neske, head of Private & Business Clients (PBC), will leave Deutsche Bank on 30 June as mutually agreed between the Supervisory Board and himself.
Christian Sewing, responsible for Legal, will succeed Neske as head of PBC.
In addition, Deutsche Bank announced non-Management Board changes, including Nadine Faruque, Global head of Compliance, will become a general manager (Generalbevollmächtigte) of the Bank and will thus further support Christian Sewing in special, compliance-related legal issues.
Fabrizio Campelli, head of Group Strategy (AfK), will assume additional responsibility for Strategy & Organizational Development, reporting to Jain and Campelli will also become deputy chief operating officer, reporting to Ritchotte in that capacity.
Alan Cloete, co-chief executive of Asia Pacific, and Colin Grassie, chief executive of the United Kingdom, will leave Deutsche Bank in the near future.
They will work to transition their duties until successors are appointed in due course.
Gunit Chadha remains co-chief executive officer of Asia Pacific.
Paul Achleitner, chairman of the Supervisory Board of Deutsche Bank, said: “I would like to thank Rainer Neske for his 25 years of service to Deutsche Bank.
“He has been instrumental in achieving our position as a leading retail bank in Germany and beyond.
“Given the new strategic direction of our Private & Business Clients business, we agreed that new leadership would be needed.”
“Christian Sewing began his career at Deutsche Bank 26 years ago as a banking trainee in the retail business and was a member of the Private & Business Clients Global Executive Committee for three years until 2013.
“His broad experience and character make him the right choice to lead this important core business of the bank into a new period of growth.”
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