Deutsche Bank contemplates huge management structure overhaul

Deutsche Bank - External

Deutsche Bank co-Chief Executive Officer John Cryan is considering the biggest overhaul of the lender’s management structure in more than a decade, according to a person with knowledge of the matter.

Bloomberg News reports that the lender is looking at abolishing the 19-member group executive committee, which advises the management board led by Cryan and co-CEO Juergen Fitschen, said the person, who asked not to be named as the deliberations are private. The plan is preliminary and may not be carried out, according to the person. 

'The bank’s processes are just too costly and Cryan faces a Herculean task given he’ll have to turn Deutsche Bank upside down', Ingo Frommen, an analyst at Landesbank Baden-Wuerttemberg in Stuttgart, Germany, who has a hold recommendation on the stock. 'We expect changes to the GEC and management board in the fall'.

To access the complete Bloomberg News article hit the link below:

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