Frankfurt — Deutsche Bank has appointed Fabrizio Campelli to lead its investment bank as CEO Christian Sewing gives up oversight of the unit to focus on the overhaul of the lender with a renewed contract.
The bank also said COO Frank Kuhnke will leave, confirming an earlier report by Bloomberg. The bank appointed Rebecca Short to the management board as chief transformation officer, the role previously held by Campelli. She will also assume oversight over the bank’s wind-down unit from Kuhnke. “The aim of the reorganisation is to focus the management team more closely on the four business divisions to ensure sustainable profitability after the bank’s return to profitability in 2020,” Deutsche Bank said in the statement. “The bank has also realigned some infrastructure functions to further sharpen the focus on controls, costs, and risks.”
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