Deutsche Bank Names First Woman to Executive CommitteeNicholas Comfort
Deutsche Bank AG named Sylvie Matherat, a French banking regulator, as the first woman on the body that advises top managers at Europe’s largest investment bank.
Matherat, 52, will join as global head of government and regulatory affairs on Aug. 1 from Banque de France, the French central bank, Frankfurt-based Deutsche Bank said in an e-mailed statement today. Fabrizio Campelli, 41, the firm’s head of group strategy, will also join the lender’s group executive committee with immediate effect, Deutsche Bank said in a separate statement today.
The panel advises the company’s seven-member management board. Set up in 2002, it is the bank’s key body for consulting on strategic issues before decisions are taken by the board. It had 18 members before today’s announcement, including the seven senior managers.
Deutsche Bank follows Banco Santander SA, Royal Bank of Scotland Group Plc and Barclays Plc in hiring former regulators to see it through the implementation of stricter capital standards and to steer the bank clear of future investigations. Deutsche Bank is one of at least a dozen banks being probed over allegations of manipulation in the foreign exchange market. The company was fined 725 million euros ($981.8 million) by the European Union in December for rigging interest rates linked to the benchmark known as Libor.
Matherat, who was deputy director general of operations and director for financial stability at Banque de France, will report to Deutsche Bank management board member Stephan Leithner, while Campelli, an Italian who joined Deutsche Bank in 2004, will continue to report to Chief Operating Officer Henry Ritchotte, Deutsche Bank said.
Matherat has also worked for banks, with a stint from 1993 to 1995 as head of the structured finance department at Paribas Capital Markets and as an auditor for retail and investment banking at Societe Generale SA from 1985 to 1986, according to Deutsche Bank.
The share of women who held the title of managing director at Deutsche Bank rose to 18.7 percent last year from 18 percent in 2012, the company’s filings show.
Today there are no women on Deutsche Bank’s management board. The last female member was Ellen Ruth Schneider-Lenne, who sat on the board from 1988 until her death in 1996. Schneider-Lenne, who was responsible for risk, also was the first woman to become a top executive at a major German bank.