Deutsche Bank Vice President Christian Sewing Set To Take Over Top Job

Deutsche Bank Vice President Christian Sewing Set To Take Over Top Job

Late Saturday, Deutsche Bank confirmed that the Sunday meeting would take place.?After a supervisory board meeting, that board's president, Paul Achleitner, would notify the overall board by phone about any decisions taken.

Last week Cryan issued a statement to employees saying he is "absolutely committed" to the bank after reports emerged that Deutsche Bank was looking for his successor. It says a comprehensive analysis led to the conclusion it needed "a new execution dynamic" in its leadership.

"The Supervisory Board in general and I personally are grateful for this", he said.

Sewing had been a management board member of Germany's largest lender since January 2015 and was appointed as the bank's president in March 2017.

Handelsblatt said last month that Deutsche Bank remains "what it was when Cryan took the helm: a chronic patient".

However, German financial magazine Handelsplatt described Deutsche Bank as a "chronic patient" that Cryan was unable to heal during his short tenure as CEO. But the bank lost 735 million euros ($903 million) a year ago.

Lula to surrender after police standoff
Lula was convicted past year of taking a luxury seaside apartment near Sao Paulo as a kickback from OAS, the construction company. He lost a lower court appeal in January and saw his sentence increased from nine to 12 years.

Mr Cryan was appointed as co-chief executive in July 2015 to overhaul the bank following a number of regulatory problems stretching back to before the financial crisis. Schenk had also been considered a candidate for the top job.

Deutsche Bank says its new chief executive officer "has proven himself a strong and disciplined leader" in his more than 25 years there. "It seems rather to be a fundamental "Deutsche Bank problem".

"He had to battle serious problems that his predecessors swept under the rug for years", Markus Riesselmann, analyst at Independent Research, told AFP.

Sewing, now head of the bank's private and commercial banking division, has been with the company since 1989. "We trust in the great ability of this bank and its many talents".

The choice of Sewing over investment banking chief Marcus Schenck, who had been discussed as a possible successor to Cryan, points to a strategic shift toward retail banking in its home market Germany.

Related News:

Most liked

Patrick Reed wins Masters for 1st major title
Patrick successfully defeated competitors Rickie Fowler and 2015 champion Jordan Spieth in his first major championship victory. That left Spieth and Reed to duke it out, though they were separated by so many holes it was as if they were shadow boxing.

Poaching case: Salman gets 5 years in jail
It is also worth mentioning here that Salman was earlier acquitted by the Bombay High Court in the 2002 hit and run case. Sources said soon after the actor was convicted, his sisters broke down while Salman preferred to remain silent.

MMA fighter McGregor freed on bail after Brooklyn melee
Chiesa later said on Twitter that the New York State Athletic Commission determined he would not be allowed to fight on Saturday. The fracas appeared to be related to the Ultimate Fighting Championship's decision to strip McGregor of his title.

TRACKING: Cold tonight with accumulating snow Sunday afternoon
It took 18 days into the spring season for most of us to achieve only our second 60-degree day of the season. We start off early Sunday morning with sunshine, but clouds quickly increase throughout the day.

J&K: Decapitated body of abducted man found in Hajin
Manzoor Ahmed Bhat, the youth who was abducted by gunmen on Wednesday in Hajin was found dead on Friday. So far, police have identified the militants as - Abu Muslim, Hubaib, Khalid, Abu Hamza and Haider.

She Doin' it! Tiffany Haddish to Executive Produce New HBO Comedy 'Unsubscribed'
Haddish was mortified and refused to dance for months after that, but then she received a sweet note from the man's family. Aside from that insane story, Fallon congratulated her on breaking three TBS premiere records with The Last O.G.

Conte denies Vialli claims that he can't 'wait to leave'
With Gianluca we went once to dinner last season and then I stopped (speaking to him). We have to try to give all ourselves.

Surgeon general issues advisory on naloxone and opioid overdose
In most states, residents can walk into a pharmacy and request naloxone even if they don't already have a prescription. That's made it harder for local governments that want to give more of their first responders the antidotes.

Keep watch for possible severe weather
If a tornado does develop, the strength of the tornado should be limited to below EF-2 strength, given the atmospheric setup. Basically the northern half of the area from I-10 north is in a slight risk outlook for severe weather.

Liverpool boss Jurgen Klopp: Why I dropped Mohamed Salah and Roberto Firmino
Salah got on the board in that match, and his availability for Tuesday's return leg and the rest of the campaign is pivotal. We say "battle", it was all a bit one-sided if we're honest.

Ex-Catalan leader Puigdemont urges dialogue with Spain
Jordi Sanchez was remanded in custody in October pending charges of sedition over last year's Catalan independence bid. The German court said it will consider his extradition on that count.

Sixers overcome James to vault into third place
The game was decided with the megastar at the foul line attempting three foul shots with 1.9 seconds left. Off the court, James gave the all-important IG nod of approval to Simmons' nickname for the matchup.

Jury picked in Bill Cosby's sexual assault retrial
Bliss's Batson challenge as "ludicrous", saying that prosecutors had agreed to both the black jurors to emerge from the jury pool. Cosby's lawyers, who claimed that the prosecution had objected to the inclusion of a black woman on the jury because of her race.

At least 14 people killed in crash involving Canadian junior hockey team
The team's president, who was not on the bus at the time, said it was the hardest day of his life after hearing of the tragedy. Prime Minister Justin Trudeau tweeted his support for Humboldt. "Some of them are waiting to hear if their kids are alive".

You're not insane : The Instagram app just disappeared from Apple Watch
According to the latest report by Bloomberg , Apple is trying out new screen gestures to make iPhones stand out in future. You have screens with unbelievably thin bezels, screens that respond differently to the amount of pressure applied today.