: Deutsche Bank makes upper echelon changes to ‘sharpen management board’s focus’

Deutsche Bank AG DB on Wednesday announced a new “leaner” nine-member management board to “further sharpen its focus on clients’ needs, the bank’s areas of growth and operational excellence.” Among the changes, Christiana Riley, CEO for the Americas and management board member, is leaving the bank after May 17 for a new opportunity outside of Deutsche Bank. Chief Administrative Officer Stefan Simon will additionally take over Americas responsibility as of May 18.  The team will work to speed up the implementation of the bank’s Global Hausbank strategy. “Against the backdrop of a challenging environment, costs and controls will continue to be areas of significant focus,” Deutsche Bank said. “It is time to focus the management board on the next phase of the bank’s growth strategy, which is now more than ever about sustainable profitability, efficiency and effective controls,” said Alex Wynaendts, chair of the bank’s supervisory board. The bank has already announced the departure of Karl von Rohr, president who is responsible for the Private Bank, Asset Management and the German and EMEA regions.

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