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Exit of Deutsche Bank's investment bank chief marks the end of era

Deutsche Bank's investment bank has been central to its strategy for years, leading it to maintain a large presence on Wall Street

Reuters  |  Frankfurt 

The head of Deutsche Bank's investment bank agreed to step down on Friday in a sign of the division's waning influence as Germany's largest lender prepares a multi-billion dollar restructuring aimed at reversing a decline in its fortunes. Chief Executive Christian Sewing will represent the investment bank on Deutsche Bank's board following the departure of the division's boss Garth Ritchie, who has been a deputy CEO with a board seat, the Frankfurt-based bank said in a statement. Ritchie, whose contract was extended last September for another four years, was ...

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First Published: Sat, July 06 2019. 19:31 IST