Deals
Deutsche Bank's Sewing Likely to Stay CEO After Takeover
- Commerzbank chief Zielke would probably head the retail unit
- Banks haven’t reached a deal since starting talks a month ago
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Deutsche Bank Chief Executive Officer Christian Sewing would probably stay on as CEO in case the lender takes over rival Commerzbank AG, people familiar with the matter said.
The banks have discussed the possibility of Sewing leading the combined entity while Commerzbank CEO Martin Zielke will likely take on a new role as head of the retail unit, the people said, asking not to be identified discussing the private information. Deutsche Bank investment banking head Garth Ritchie would remain in his current post and Deutsche Bank Chairman Paul Achleitner would continue in the same role for the combined firm, at least for a transition phase, they said.