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7/11, 3:10 AM (Source: TeleTrader)
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Report: Deutsche Bank to appoint Barclays legal expert to board

Deutsche Bank is set to appoint a former Barclays legal executive to its supervisory board, the Financial Times reported citing two people familiar with the talks. Dagmar Valcárcel will replace Stefan Simon, who is moving to the lender’s management board.

Earlier this week, the German bank announced a €7.4 billion overhaul of its business after it was revealed that the company is also planning significant changes among its top management and considering cutting 20,000 jobs.

The shake-up of Deutsche's business follows the failure of merger talks with rival Commerzbank in April.

Breaking the News / JC