🍒 Deutsche Bank CEO faces tough decisions regarding bonuses, Banking & Finance - THE BUSINESS TIMES

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[FRANKFURT] Deutsche Bank AG Chief Executive Officer Christian Sewing is considering whether to appoint a new investment banking head.


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German lender Deutsche Bank will have a new CEO for its Asia Pacific Business. He replaces Werner Steinmüller who will retire by the end of.


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German lender Deutsche Bank will have a new CEO for its Asia Pacific Business. He replaces Werner Steinmüller who will retire by the end of.


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Deutsche Bank chief executive Christian Sewing said on Tuesday that markets were too optimistic in their assessment of a recovery from the.


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management, resource allocation, financial accounting and reporting, risk management, and corporate control. Christian SewingChief Executive Officer.


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Deutsche Bank CEO's Last-Ditch Plan to Save Best of His Business. As CEO Christian Sewing cuts back the global megabank, revenue growth.


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AS Deutsche Bank AG nears its end-of-year decision on bonuses, one question looms large for chief executive officer Christian Sewing: How.


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AS Deutsche Bank AG nears its end-of-year decision on bonuses, one question looms large for chief executive officer Christian Sewing: How.


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German lender Deutsche Bank will have a new CEO for its Asia Pacific Business. He replaces Werner Steinmüller who will retire by the end of.


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[FRANKFURT] Deutsche Bank AG Chief Executive Officer Christian Sewing is considering whether to appoint a new investment banking head.


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deutsche bank ceo

Get this delivered to your inbox, and more info about our products and services. Dear Colleagues, At the Annual General Meeting in May I said that we would speed-up the transformation of our bank significantly, that we would have to take faster and more radical action. They have to be role models — internally as well as externally. It is about once again putting the needs of our clients at the centre of what we do — and finally delivering returns for our shareholders again. That is a matter of structure as much as of individual team members. Deutsche Bank announced Sunday that it will pull out of global equities sales and trading, scale back investment banking and slash thousands of jobs as part of a sweeping restructuring plan to improve profitability. This, in turn, will give Frank Kuhnke the necessary freedom to concentrate on what he does better than anyone else. A culture where integrity and teamwork are core values. It is absolutely vital that we achieve this if we want to be competitive in the long term. It will hold deposits of more than billion euros and process financial transactions with a value of one billion euros every day. In the long-term interests of our bank, however, we have no choice other than to approach this transformation decisively. With Bernd Leukert, we will be joined by someone who was previously in charge of product development at SAP. Deutsche will cut 18, jobs for a global headcount of around 74, employees by At the Annual General Meeting in May I said that we would speed-up the transformation of our bank significantly, that we would have to take faster and more radical action. We are not too far away from this goal. Going forward, our Management Board — next to our President Karl von Rohr and myself — will only represent the bank's central functions and regions. That is why we will accelerate the integration of Deutsche Bank and Postbank. It has far-reaching consequences for our bank — the bank that I have been working at for almost thirty years now. A culture that takes our responsibility for the economy and for society seriously. In those areas where we are not currently competing to win, we are now taking decisive action. But I am determined, and so is my leadership team: This is about thinking radically and thinking differently. On the contrary, we can and will further improve them. One thing is certain: If we are serious about shaping a new Deutsche Bank, change will need to start right at the top. We intend to reduce adjusted costs by about 6 billion euros to 17 billion euros by One thing is certain — we will not make any sacrifices when it comes to our control functions. I personally greatly regret the impact this will have on some of you. Markets Pre-Markets U. This will serve to free up significant amounts of capital. I can assure you that my colleagues and I appreciate that this impacts people and affects their lives in a profound way. Taking this decision has not been easy. The works councils and employee representatives will be consulted where applicable and statutory participation rights will be safeguarded. It is our stated goal also to achieve that position in areas where we are not yet leading but have strong growth potential by offering innovative digital solutions and outstanding advice. All Rights Reserved. Instead, we want to enable those responsible for the business divisions to act as entrepreneurs within our bank — all the while being laser-focused on our clients and what we can offer them. Sign up for free newsletters and get more CNBC delivered to your inbox. A culture that we are all proud of and where extraordinarily talented people want to work. Alongside our Corporate Bank will be an Investment Bank that connects our corporate clients with capital markets worldwide. As a result, we intend to return 5 billion euros to shareholders from The rebuilding will, however, only be successful if we fundamentally reshape our infrastructure — all of the cross-divisional functions supporting the businesses. The transformation will bring us closer to our core strength, our DNA. A culture that enables rather than prevents.

Deutsche Bank CEO Christian Sewing, in an email to colleagues, said he "greatly regrets" the impact these job cuts will have on employees, adding that it is in the "long-term interests" of the bank. The task is to find ways to combine these two propositions, because it is exactly in this combination that our strength lies.

This division is focused on midcap clients, family-owned companies and multinational corporates. The team will comprise 13 members, representing the relevant infrastructure functions. That is why we will do whatever it takes to implement these cuts as responsibly as possible — I consider it our duty to do so.

In the age of cloud-computing and platform economies, he will ensure that we accelerate our progress still further. A bank which we can be justifiably proud of. A culture that always puts the bank and its clients first, before the interests of the individual.

Almost years ago, we deutsche bank ceo founded as a bank that serves German and European companies worldwide, that provides a global network and that paves the road to Click the following article for international companies and investors.

This is exactly the role that the Corporate Bank which we are forming will play. This includes Christiana Riley, who will be responsible for our business in the Deutsche bank ceo, and Stefan Simon, who will be responsible for Legal and Regulatory Affairs.

The Group Management Committee will be supported by the so-called Senior Leadership Team, the extended management circle.

This is a rebuilding which, in a way, also takes us back to our roots. I will stress deutsche bank ceo that what we have announced today is nothing less than a fundamental rebuilding of Deutsche Bank through which we are ushering in a new era for our bank.

That is why we are deutsche bank ceo risk management together with the divisions for compliance and anti-financial crime. In doing so, we can build on the many innovations that our bank has developed over the past couple of years. The term "bad bank", which deutsche bank ceo often used in the media, is in this case misleading.

We are deliberately separating the business heads from the responsibilities of the Management Board which require deutsche bank ceo lot of time and attention. Let us start with innovation: We intend to invest 13 billion euros in technology by In addition, we will have a Management Board member responsible for digitalisation, data and innovation.

We are creating a bank that will be more profitable, leaner, more innovative and more resilient. It is intended that both, alongside Bernd Leukert, will become members of the Management Click the following article as soon as regulatory approvals have been obtained.

This is especially true for the sizeable workforce reductions. The colleagues that are now joining the newly formed Group Management Committee represent exactly those values. Only then can we build on our long-standing history and make Deutsche Bank a leading bank once again.

Let me start with the leadership structure that we have also announced today. On the other hand, we also have a few goodbyes. Indeed, we have no choice other than to concentrate our strengths and resources where we play to win and where we can make a true difference for our clients.

Data also provided by. We were determined to form a team that would represent trust, strength in innovation and an entrepreneurial mindset — and that would enable us to make a credible fresh start.

In total, we will be transferring 74 billion euros of risk weighted assets into the Capital Release Unit CRU to be sold over the course of the coming years. Our Corporate Bank will be led by Stefan Hoops, who will report to me.

That means we will be fundamentally rebuilding our bank. I will not go over all the details that we just published in our media release. However, I am convinced our new structure is an important step forward for our bank — because it will enable us to become more agile and flexible. In order to achieve this, we need to manage our cost base more efficiently. The strict separation between private and corporate clients also means we will have a much more focused private client business. It is about a new culture. In our home market, we are already a market leader in many businesses. My colleagues and I expect the highest degree of integrity and teamwork. For many years, our fixed costs have been way too high, as is demonstrated by our cost-income ratio. Here, we also have to become more innovative and more efficient whilst simultaneously strengthening our controls. Deutsche Banks revenue contracted for an eighth straight quarter in the final months of last year, complicating Chief Executive Officer Christian Sewings plan to turn around the lender through cost cutting. In the Investment Bank, we are highly profitable and stable in many areas of the business and will improve significantly over the coming years. I personally have greatly appreciated the spirit of cooperation with all three of them. Skip Navigation. Today is that day: After further stabilizing our bank last year, we are now entering the next phase — and that means nothing less than a fundamental transformation of our bank. However, we also have to face the fact that this transformation will require uncomfortable decisions. Going forward, our Investment Bank will be smaller — but all the more stable and competitive. Going forward, our Corporate Bank will also serve the corporate and commercial clients of Deutsche Bank and Postbank in our home market. He will put the structure and processes of our infrastructure functions to the test and make them leaner and more efficient. In this division, we will concentrate on those areas in which we have a longstanding expertise — credit, fixed income and currencies, as well as strategic advice. Together, we have come a long way — especially over the course of the past year. First let me say this: I am very much aware that in rebuilding our bank, we are making deep cuts. That brings us to the people who will execute the transformation: our leadership team. These areas which are of utmost importance to our integrity and to trust in our bank will therefore be combined in a single division led by Stuart Lewis. Given the high quality and in many cases short duration of the assets, we expect these to be wound down quickly. Since then, many of you have asked me when we would announce concrete next steps.