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Deutsche Bank promotes CFO as one of two deputy CEOs

Deutsche Bank promotes CFO as one of two deputy CEOs
Deutsche Bank promotes CFO as one of two deputy CEOs Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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FRANKFURT -Deutsche Bank said on Friday it had promoted its finance chief James von Moltke to the role of deputy chief executive officer.

Von Moltke will be the second of two deputies, serving along with Karl von Rohr, who has had the job since 2018. He will remain CFO.

Von Moltke joined Deutsche as CFO five years ago and has played a key role in the bank's overhaul by keeping a tight lid on costs and communicating with investors and the public.

"This gives us the right governance structure to succeed in the long term in this time of increasing complexity and volatility," Chief Executive Officer Christian Sewing said.

In 2019, Deutsche Bank embarked on a major restructuring that involved cutting 18,000 staff and exiting some businesses.

Last year, the bank delivered its most profitable year in a decade, its second consecutive annual profit following years of losses.

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