Deutsche Bank Investor-Relations Chief John Andrews Leaving After Five Years

By Jenny Strasburg

Deutsche Bank AG's head of investor relations John Andrews is leaving the bank after five years, according to an internal memo Wednesday from the lender's chief financial officer.

The German bank is promoting James Rivett, the New York-based head of fixed-income investor relations, into the global role, CFO James von Moltke said in the memo, which was confirmed by Deutsche Bank. Mr. Rivett, who joined Deutsche Bank in 2014, will move to Frankfurt, reporting to Mr. von Moltke.

Mr. Andrews confirmed his departure plans and said he is not leaving to join another firm immediately. He previously oversaw investor relations at Citigroup Inc. and Citadel LLC.

"John feels that this is the right time to take this step with the leadership changes recently announced," Mr. von Moltke said in the memo.

Last week, Deutsche Bank's supervisory board named Christian Sewing as its new chief executive officer, replacing John Cryan after a tumultuous period of management uncertainty. Mr. Sewing, who has worked his entire career at Deutsche Bank, was previously co-president under Mr. Cryan and oversaw retail and private banking based in Frankfurt.

Deutsche Bank has struggled to halt market-share losses in its investment banking and trading businesses during a multiyear restructuring. Last year it raised billions of dollars in capital, but it's under pressure from regulators to shrink, including in its U.S. trading operations, according to people familiar with the matter.

Mr. Rivett previously worked under Mr. Andrews at Citigroup, in investor relations, and also worked as an equity-research analyst. At Deutsche Bank, he has been a primary contact for bond investors and credit-ratings agencies.

Write to Jenny Strasburg at jenny.strasburg@wsj.com

(END) Dow Jones Newswires

April 18, 2018 08:21 ET (12:21 GMT)

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