Deutsche Bank has hired Steven F. Reich, a former official at the U.S. Department of Justice and attorney for former President Bill Clinton, as its general counsel for the Americas as the firm seeks to resolve legal probes.
Bloomberg News reports that Reich, most recently a partner at law firm Akin Gump Strauss Hauer & Feld in New York, will join the bank in April, reporting to Deputy General Counsels Simon Dodds in London and Christof von Dryander in Frankfurt, according to Michele Allison, a spokeswoman for the bank. The New York Times reported Reich’s appointment late Tuesday.
'Steve’s broad experience in both the private and public sectors will add a valuable perspective to our world-class team', Allison said.
In the meantime, the CEO of Royal Bank of Scotland's wealth arm is to step down in the latest of a string of management changes at the taxpayer-backed lender.
His departure is expected to be announced alongside the bank's annual results on Thursday, according to insiders.