A file photo of the newly appointed Deutsche Bank CEO, Christian Sewing. Photo: ReutersFrankfurt: Deutsche Bank AG named Christian Sewing to replace chief executive officer John Cryan after less than three years amid mounting questions about the future direction of Europe’s largest investment bank. Sewing, a lifelong Deutsche Bank employee, will take over with immediate effect, the lender said in a statement from Frankfurt late Sunday. He joined Deutsche Bank in 1996 and rose through the ranks of its equities-trading division to become sole head of that business in 2010. Schenck, who co-led the investment bank with Ritchie, didn’t want a position in the new management team and informed the board before Easter that he planned to leave, Deutsche Bank said.

Source: Mint April 09, 2018 03:45 UTC