Top Deutsche Bank AG executives Garth Ritchie and Jeffrey Urwin are among those who gained the most from co-Chief Executive Officer John Cryan’s shakeup.
Ritchie, 47, will run the bank’s entire trading operations, while Urwin, 59, who only joined the lender in February, will manage a newly formed corporate and investment bank unit. Between them, the two will oversee businesses that produced 58 percent of Deutsche Bank’s revenue in the first half of 2015.
Here are some milestones in their career.
- Born July 1968, Ritchie attended St. John’s College, a private school in Johannesburg, before studying at the University of Port Elizabeth in South Africa. He received a Bachelor of Commerce degree in 1993.
- Before joining Deutsche Bank in 1996, he traded derivatives at Fergusson Bros., a South African brokerage that was later acquired by Investec Bank Ltd.
- At the German lender, he held roles in emerging-market derivatives, European options market-making and U.K. single-stock derivatives.
- In 2005, he was named head of European equities business by Deutsche Bank’s then-trading chief, Yassine Bouhara.
- In December 2008, Ritchie was named co-head of global equities along with Robert Karofsky, replacing Bouhara, who became global head of structuring and head of global markets for Europe, the Middle East and Africa. Deutsche Bank's global equity trading revenue fell 60 percent to 1.43 billion euros ($1.6 billion) in the first nine months of 2008 from the same period a year earlier, the company's filings show.
- In 2010, he became sole head of global equities when Karofsky left the bank.
- At the equities business, he has overseen a unit that produces between about 7 percent and 10 percent of Deutsche Bank’s revenue.
Jeffrey “Jeff” Urwin
- Born in January 1956, Urwin graduated with law degree from University of Birmingham in 1978.
- After university, he worked on the emerging markets business at Midland Bank Plc, a lender that was later taken over by HSBC Holdings Plc.
- In 1991, he joined Lehman Brothers Holdings Inc. before joining Bear Stearns in 1996.
- He was among the highest-ranking Bear Stearns executives to join JPMorgan Chase & Co. in the 2008 takeover and became global head of investment banking in 2011.
- At JPMorgan, Urwin oversaw an investment-banking unit that included top U.S. equity and investment-grade bond underwriters and one of world’s biggest M&A advisers.
- In 2015, he joined Deutsche Bank to help lead investment banking and trading.
Other winners include Quintin Price, an ex-BlackRock Inc. executive who will head asset management. Kimberly Hammonds, who was appointed chief operating officer, and new Chief Regulatory Officer Sylvie Matherat will become the first women on the lender’s board in almost two decades.
(Corrects eighth paragraph of story that ran Oct. 19 with Bouhara's title and Deutsche Bank's global equities revenue.)