DB urged to separate CEO, investment bank head roles - report

Monday, 04. November 2019 06:37

European and German regulators are urging Deutsche Bank to separate the roles of chief executive officer (CEO) and investment bank head, the Financial Times reported on Monday citing sources familiar with internal discussions.

According to the report, the European Central Bank and German Federal Financial Supervisory Authority (BaFin) are calling on Christian Sewing (pictured) to give up one of the two positions sometime in the next two years, claiming there could be a conflict of interest and warning Sewing's double role may undermine the company's restructuring.

Deutsche Bank stressed there are "presently no plans to change management board responsibility for our investment bank" but noted it is in contact with regulators.

Related Links: Deutsche Bank AG
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Breaking the News / NP