Deutsche Bank announces plan of job cuts
The German institution indicated that by 2022 there will be a decrease of 74,000 full-time jobs
Deutsche Bank will cut around 18,000 jobs within the framework of a deep restructuring of the consortium that will also include its board of directors, as announced today in Frankfurt after a meeting of the supervisory board.
The Deutsche Bank reported that it will reduce its workforce to 74,000 full-time jobs by 2022.
On the other hand, the largest German banking institution will strongly restructure its board of directors, the entity also announced today.
Frank Strauss, head of private and commercial banking, and former supervisor Sylvie Matherat, responsible for regulatory affairs, will leave their positions on the board of directors and withdraw from the credit institution on July 31.
Last Friday the bank had already announced that Garth Richie, current director of investment banking, will leave the entity by the same date.
Christian Sewing, the bank CEO, will take over the management of the recently weakened banking group headquartered in Frankfurt.
For his part, the vice president of the entity, Karl von Rohr, will assume responsibility for private banking and asset management under the DWS brand.
The director of financial risks, Stuart Lewis, will also deal with the future of the Compliance area and the division against financial crime.
The supervisory board of Deutsche Bank also appointed three new board members to its session this Sunday, who are Christiana Riley, Bern Leukert and Stefan Simon.
K. Tovar
Source: La Vanguardia
