Deutsche Bank to Name Stefan Hoops to Head New Unit in Overhaul
- Lender is weighing a new fourth key division at the bank
- Mark Fedorcik to take over at the investment banking unit
The Deutsche Bank headquarters in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Deutsche Bank AG plans to promote Stefan Hoops to head a new division, probably comprised of the transaction bank and the lender’s commercial-clients unit, in a sweeping overhaul to be announced this weekend, people familiar with the matter said.
Hoops, the current transaction bank chief, will be in charge of a fourth core division that Chief Executive Officer Christian Sewing plans to create by taking the transaction bank out of the investment bank and merging it with the commercial clients parts of the retail division, the people said, asking not to be identified discussing the private deliberations.