• 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.

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