Deutsche Bank extends CEO Christian Sewing mandate until April 2029

Deutsche Bank (DB) announced changes to its management structure for “the next phase of the bank’s growth strategy.” The bank stated: The Supervisory Board also decided on a new mandate for Christian Sewing running until April 2029, representing an extension of three years compared to his current contract. Fabrizio Campelli, Head of the Corporate Bank and Investment Bank, will also have his contract extended by three years, running until October 2028. Alexander Wynaendts, Chairman of the Supervisory Board, said: “With these contract extensions we ensure continuity in key management roles Christian successfully drove Deutsche Bank’s turnaround since 2018, substantially increasing profitability and shareholder returns. Significant value has been created for Deutsche Bank’s stakeholders. The Supervisory Board is convinced that Christian is the right person to lead the bank through the next stage of its evolution. The Supervisory Board is also pleased to extend the contract of Fabrizio Campelli, who has successfully led the Corporate Bank and the Investment Bank over the past years.” The Supervisory Board also asked Campelli to assume the regional responsibility for the Americas, effective May 1. He is taking over from Stefan Simon who will leave the bank for personal reasons. A new permanent CEO for the Americas, reporting to Campelli, will be appointed in due course. In the interim, Paul Maley, Head of Corporate Bank Americas, will assume responsibility as CEO Americas, subject to regulatory approvals.