Deutsche Bank Supervisory Board Nominates Two New Members

   By Jenny Strasburg

Deutsche Bank AG's supervisory board on Thursday nominated two new members ahead of the German lender's annual meeting in May--a technology-security official at Alphabet Inc.'s Google and an asset-management executive representing a Chinese investor in Deutsche Bank.

The board also nominated Chairman Paul Achleitner for a further five-year term and recommended he remain chairman.

Gerhard Eschelbeck, vice president of security engineering at Google, is nominated to replace Peter Löscher, whose board term is ending, Deutsche Bank said.

Alexander Schütz, founder and chief executive of Austrian asset manager C-Quadrat Investment AG, is nominated to replace Klaus Rüdiger Trützschler, whose board term is ending. C-Quadrat manages a 3.04% stake in Deutsche Bank shares held by Chinese conglomerate HNA Group, according to securities filings. That stake, disclosed in February, made HNA Group the bank's third-largest shareholder.

Another supervisory-board member appointed last year, Stefan Simon, will stand for election in May. Mr. Simon is a Bonn-based lawyer representing Qatari investors who through investment vehicles hold just under 10% of Deutsche Bank shares, making them the largest shareholder, according to disclosures last year.

(END) Dow Jones Newswires

March 16, 2017 15:31 ET (19:31 GMT)

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