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7/4, 4:01 PM (Source: TeleTrader)
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Deutsche Bank's CFO to be replaced – report

Germany's largest lender is planning a leadership overhaul, according to information obtained by Focus from people in the room. The article published on Thursday said "at least" three out of nine members of the Executive Board of Deutsche Bank AG would leave after the special meeting of the Supervisory Board on July 7. Chief financial officer James von Moltke (pictured) will reportedly be replaced by Alexander Ilgen, who heads finance in the private and corporate clients segment. The unconfirmed news mirrors a string of leaks to the media by insiders from the ailing lender in the past months.

Chief executive Christian Sewing is said to be preparing to take over the responsibilities of main investment banker Garth Ritchie, while Karin Dohm, who runs regulatory affairs, is apparently picked for the compliance position instead of incumbent Sylvie Matherat.

The sources revealed the fate of Frank Strauss, the chief of the Private and Commercial Bank (DB Privat- und Firmenkundenbank AG), is uncertain due to his acknowledgment of concerns expressed by unions during this year's failed negotiations about a merger with Commerzbank. The unit includes Postbank.

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