Deutsche Bank Names Weber-Rey Chief Governance Officer

Deutsche Bank AG (DBK), continental Europe’s biggest bank by assets, hired Daniela Weber-Rey from law firm Clifford Chance LLP to be chief governance officer and deputy global head of compliance.

Weber-Rey, 55, who focused on financial institutions at Clifford Chance, will join the bank in Frankfurt on June 1, the lender said today in an e-mailed statement. She will report to Deutsche Bank management board member Stephan Leithner in her governance role and serve as deputy to compliance chief Andrew Procter, according to the statement.

Deutsche Bank recently lost at least three female bankers, potentially setting back its effort to boost the representation of women in management. The firm, which has no women on either of its two highest executive committees, intends to increase the number of female senior executives it employs to 25 percent by the end of 2018 from 18 percent in 2012, company filings show.

Deputy finance chief Charlotte Jones is leaving this month, Deutsche Bank said April 3. KKR & Co. (KKR) said April 8 that it hired the firm’s Sydney-based head of leveraged finance, Diane Raposio. Sofia Sool, head of markets coverage and origination at the German bank’s unit in Moscow, will join UBS AG as co-chief of investment banking for Russia, two people familiar with the matter said this month.

Deutsche Bank raised reserves last month to cover costs linked to U.S. mortgage lawsuits and is among banks facing regulatory probes over alleged attempts to rig interbank lending rates. The firm has sought to avoid future pitfalls by splitting responsbilities for compliance and risk management between two executives and plans to hire supervisory board members with more knowledge of finance and legal affairs this month.

Bafin, the German banking regulator, has criticized Deutsche Bank’s general counsel, Richard Walker, for not speaking German and being based in New York, Der Spiegel reported on April 14, without citing anyone.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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