logo
Share SHARE
FONT-SIZE Plus   Neg

Deutsche Bank Names Stuart Lewis Chief Risk Officer, Henry Ritchotte COO

Germany's Deutsche Bank AG (DB) on Friday appointed Stuart Lewis as Chief Risk Officer and Henry Ritchotte as Chief Operating Officer, effective June 1. They will be succeeding Hugo Bänziger and Hermann-Josef Lamberti, respectively, who have decided to step down from the Management Board and to leave the Bank on May 31. The company also named Stephan Leithner to head global Human Resources, Legal and Compliance and CEO for Europe.

As per reports, the company had planned to appoint William Broeksmit to the post of Chief Risk Officer. However, Lewis was selected as the country's financial regulator BaFin is of the view that Lewis is more suitable to the post. BaFin was reportedly concerned that Broeksmit did not have enough experience in managing such a large number of employees.

At present, Lewis is Deutsche Bank's deputy chief risk officer and head of risk for the corporate and investment bank.

In their new roles, Lewis, 46, will have oversight of market, credit and operational risk, and Ritchotte, 48, will take care of Technology, Operations and Strategy. Leithner, 45, as CEO for Europe will have oversight of the Bank's Regional Management in Europe, excluding Germany.

Clemens Börsig, Chairman of the Supervisory Board, said, "We thank Hugo and Hermann-Josef for their outstanding contributions to the Bank .... Hugo Bänziger has played a crucial role in helping the Bank get through the financial crisis. Thanks to Hermann-Josef Lamberti, the Bank today has an excellent, state-of-the-art infrastructure."

The company also announced that three members of its Supervisory Board will retire from the Board at the conclusion of the Annual General Meeting on May 31. They are Clemens Börsig, Maurice Lévy and Theo Siegert.

In addition, the Supervisory Board decided to propose that shareholders elect Paul Achleitner, Peter Löscher and Klaus Trützschler as their representatives at the Annual General Meeting.

It is also intended that Achleitner, currently a member of the Management Board of Allianz SE, be elected Supervisory Board chairman at the meeting of the Supervisory Board following the Annual General Meeting.

Deutsche Bank shares are currently trading at 38.82 euros, up 0.40 euros or 1.04 percent on Frankfurt's Xetra.

In the U.S., shares are currently at $50.97 in pre-market activity, up $0.50 or 0.99 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT