The largest German bank - Deutsche Bank – intends to conduct organizational restructuring of its management, as said in the message of the financial institution, Prime reports.
The Group Executive Committee will be abolished. Effective January 1, 2016, all four core business divisions will be represented directly on the Management Board. A ten-person Management Board will be supplemented by four Senior Group Directors. Some directors of Deutsche Bank will step down from the bank.
The Corporate Banking & Securities (CB&S) business division is a main focus of the organizational restructuring and will be split into two business divisions from January 1st.
”Deutsche Bank rarely underwent such a fundamental reorganization in its history. This also requires tough decisions. I would like to stress that all parties involved have tried to achieve the best possible outcomes for Deutsche Bank, having set aside personal interests. For this, and for their contributions in the past years, we would like to thank those executives leaving the company”, said Paul Achleitner, Chairman of the Supervisory Board.
