Deutsche Bank to Name James von Moltke CFO--Sources
April 28 2017 - 4:55AM
Dow Jones News
By Jenny Strasburg
Deutsche Bank AG plans to name Citigroup Inc. Treasurer James
von Moltke, a former investment banker, as the German lender's new
finance chief, according to people familiar with the matter.
Mr. von Moltke has been Citigroup's treasurer since September
2015, after serving as the U.S. bank's global head of financial
planning and analysis. He joined Citigroup in 2009 as head of
corporate mergers and acquisitions, working to sell brokerage and
other assets and oversee acquisitions for the bank. He previously
worked at Morgan Stanley.
The planned appointment would fill a senior Deutsche Bank
management role currently held by Marcus Schenck. Mr. Schenck, who
has been CFO since May 2015, in March was named a deputy chief
executive officer of Deutsche Bank under CEO John Cryan and will
co-head the sprawling investment-banking division, including its
trading business.
Mr. von Moltke, who is based in New York, couldn't immediately
be reached for comment. Bloomberg earlier reported the planned
appointment. A Citigroup spokeswoman declined to comment.
Deutsche Bank's new finance chief will be under pressure to
deliver intensive cost-cutting at the bank as it attempts to revive
lackluster results in its biggest businesses. The lender this month
completed an $8.5 billion capital increase through its third share
sale since 2013.
-Write to Jenny Strasburg at jenny.strasburg@wsj.com
(END) Dow Jones Newswires
April 28, 2017 04:40 ET (08:40 GMT)
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