- Group Executive Committee abolished in management shuffle
- All four core business divisions to be managed by board
Deutsche Bank AG is restructuring its units and management from next year amid a wide-sweeping change of reporting lines.
The company is splitting its corporate banking and securities unit into two and a new division called Corporate and Investment Banking will be created from Jan. 1, the Frankfurt-based lender said Sunday.
Jeff Urwin, currently co-head of CB&S together with Colin Fan, will join the Management Board, responsible for corporate & investment banking. Stefan Krause will resign from the management board effective Oct. 31.