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Deutsche Bank To Replace John Cryan With Christian Sewing As New CEO

Deutsche Bank To Replace John Cryan With Christian Sewing As New CEO 

Deutsche Bank is supporting Christian Sewing as its new CEO, replacing John Cryan, a source for Sunday’s CNBC.

The decision has not ended, but the source said, but the chairman of the board of directors of Sewing has shown interest in holding the leadership position of troubled lenders.

The Deutsche Bank Supervisory Board chaired by Paul Achleitner will hold a call at 1 pm. East, where will be the decision.

Cryan joined the board for two years before becoming co-CEO in 2015 and then the only executive in the following year. But under his time, German lenders struggled to make profit, reporting losses for the third straight year in 2017.

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Investors have penalized Deutsche Bank with shares falling more than 27 percent in the past year.

Deutsche Bank has considered several options for a new CEO, even approaching Goldman Sachs international director Richard Gnodde to ask if he is interested in holding the position, CNBC reported last month.

Sewing is currently the deputy chief executive of the German lender and co-chairman of private banking and trade. He has been a member of the bank’s board of directors since January 2015.

The 47-year-old has been working at Deutsche Bank since 1989 in areas including audit and risk. He has worked in Frankfurt, London, Singapore, Tokyo and Toronto.Deutsche Bank is supporting Christian Sewing as its new CEO, replacing John Cryan, a source for Sunday’s CNBC.
The Deutsche Bank Supervisory Board chaired by Paul Achleitner will hold a call at 1 pm. East, where will be the decision.Sewing is currently the deputy chief executive of the German lender and co-chairman of private banking and trade. Deutsche Bank struggled to make a profit under Cryan.

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