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Deutsche Bank COO Set to Leave Amid Management Board Revamp

  • Frank Kuhnke likely won’t get renewal when contract expires
  • ‘Frank the Tank’ drove CEO’s cost-cutting efforts in revamp
Frank Kuhnke

Frank Kuhnke

Photographer: Alex Kraus/Bloomberg

Deutsche Bank AG Chief Operating Officer Frank Kuhnke will probably leave the company as part of a management board revamp, people familiar with the matter said.

Kuhnke, one of Chief Executive Officer Christian Sewing’s first appointments, will likely not have his contract renewed when it lapses later this year, the people said, who asked not to be named discussing confidential decisions. His duties could be divided up between existing board members and the bank may announce the changes as early as this week, they said.