Deutsche Bank Names New Chief Financial Officer
April 28 2017 - 7:11AM
Dow Jones News
By Jenny Strasburg
Deutsche Bank AG (DBK.XE) on Friday named Citigroup Inc.
Treasurer James von Moltke, a former investment banker, as the
German lender's new finance chief.
Mr. von Moltke, 48 years old, has been Citigroup's treasurer
since September 2015. He's expected to join Deutsche Bank in July,
replacing CFO Marcus Schenck, who will move over to co-head the
investment bank and trading businesses. Mr. Schenck in March was
promoted to deputy chief executive officer under CEO John
Cryan.
Mr. von Moltke was born in Heidelberg and educated in Germany
and the U.K. He started his career at Credit Suisse First Boston in
London 25 years ago, and worked at J.P. Morgan Chase & Co. and
Morgan Stanley before joining Citigroup in 2009, according to
Deutsche Bank.
As CFO at Deutsche Bank, he'll be under pressure to deliver
intensive cost-cutting as the lender attempts to revive lackluster
results in its biggest businesses. Deutsche Bank 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 06:56 ET (10:56 GMT)
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