Deutsche Bank has executive reshuffle
29 October 2018 Frankfurt
Image: Shutterstock
The Supervisory Board of Deutsche Bank has appointed Frank Kuhnke, acting COO to its executive board, effective 1 January 2019.
Kuhnke has been chief representative since April this year.
He is currently responsible for information security, data management and the Group's digital strategy.
Nicolas Moreau, head of asset management, will leave Deutsche Bank at the end of the year.
Moreay will be replaced by Asoka Wöhrmann, with immediate effect.
In this role, Wöhrmann will report to CEO Christian Sewing.
In addition, Wöhrmann will replace Moreau with immediate effect as chairman of the management board of DWS Group.
Wöhrmann most recently managed the retail banking business in Germany at Deutsche Bank.
Wöhrmann was responsible for the entire fund management until 2015 as global chief investment strategist.
Paul Achleitner, the chairman of the supervisory board of Deutsche Bank, said: "We not only thank Nicolas Moreau for the important impulses he has given to the bank as a whole and especially to asset management. Under his leadership, DWS was successfully listed and laid the foundation for a growth course.”
He added: “With Asoka Wöhrmann, we have appointed a profound expert on both DWS and our private customer business as general representative. We are confident that under his leadership the success story of this business, which is so important to our bank, will be continued."
Commenting on Kuhnke’s appointment, Achleitner commented: "Frank Kuhnke has already played a key role in simplifying the complex processes and structures in our bank. He will consistently continue on this path as a member of the executive board. "
Kuhnke has been chief representative since April this year.
He is currently responsible for information security, data management and the Group's digital strategy.
Nicolas Moreau, head of asset management, will leave Deutsche Bank at the end of the year.
Moreay will be replaced by Asoka Wöhrmann, with immediate effect.
In this role, Wöhrmann will report to CEO Christian Sewing.
In addition, Wöhrmann will replace Moreau with immediate effect as chairman of the management board of DWS Group.
Wöhrmann most recently managed the retail banking business in Germany at Deutsche Bank.
Wöhrmann was responsible for the entire fund management until 2015 as global chief investment strategist.
Paul Achleitner, the chairman of the supervisory board of Deutsche Bank, said: "We not only thank Nicolas Moreau for the important impulses he has given to the bank as a whole and especially to asset management. Under his leadership, DWS was successfully listed and laid the foundation for a growth course.”
He added: “With Asoka Wöhrmann, we have appointed a profound expert on both DWS and our private customer business as general representative. We are confident that under his leadership the success story of this business, which is so important to our bank, will be continued."
Commenting on Kuhnke’s appointment, Achleitner commented: "Frank Kuhnke has already played a key role in simplifying the complex processes and structures in our bank. He will consistently continue on this path as a member of the executive board. "
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