Deutsche Bank is undertaking its biggest management shake-up since 2019, the German bank said on Wednesday as it announced the departure of Christiana Riley, who oversaw its U.S. operations.
that Deutsche's co-deputy chief executive Karl von Rohr was also leaving, and the restructuring marks the first major overhaul of the bank's board under Chairman Alex Wynaendts.
Under the leadership of Chief Executive Officer Christian Sewing, Deutsche has spent the past few years raising profitability by cutting costs and jobs after years of losses at the bank. Riley, with Deutsche since 2006, was one of two women on Deutsche's 10-member board, which will now consist of only nine people - eight men and one woman - in what Deutsche said would be a "leaner" team.
Deutsche, which has faced big fines for regulatory lapses over the last decade, said that a focus for Simon will be meeting regulatory requirements and establishing "a state-of-the-art risk and controls culture".
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