Deutsche Bank Hires Wharton-Hood as South African Country Chief

Deutsche Bank AG (DBK) said Peter Wharton-Hood, who yesterday resigned as chief operating officer of Standard Bank Group Ltd. (SBK), will take over from Herman Bosman as its chief country officer for South Africa.

Wharton-Hood, 47, will remain at Standard Bank until the middle of September, he said in a phone interview from Johannesburg today. Jackee Downs, a spokeswoman for Deutsche Bank, confirmed that Wharton-Hood will join on Sept. 16.

“Peter brings with him a wealth of experience at a senior level in South Africa and throughout the continent,” Deutsche Bank said in an e-mailed statement.

Wharton-Hood, who joined Standard Bank in 1997, was one of three deputy chief executive officers appointed by the Johannesburg-based bank in April 2009. The other two, Sim Tshabalala and Ben Kruger, were promoted in March to the position of joint-CEO as Jacko Maree stepped down after 13 years as head of Africa’s biggest lender.

Wharton-Hood will replace Bosman, who said Feb. 20 that he was resigning because his role at Deutsche Bank didn’t have enough potential for development. Bosman said at the time that he would stay until Aug. 31 and may provide assistance until the end of the year.

Wharton-Hood “will be an important client of ours,” Standard Bank joint-CEO Kruger said in a presentation today.

To contact the reporter on this story: Janice Kew in Johannesburg at jkew4@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

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