Banking and wealth management services provider, Deutsche Bank announced yesterday that it has promoted James von Moltke to the position of President. He will be President alongside Karl von Rohr.
Von Moltke will take up his new position immediately. The newly appointed President has been working as Chief Financial Officer at Deutsche Bank since July 2017. According to the German financial services provider, Von Moltke will continue to serve as the CFO.
“James von Moltke has done outstanding work as a CFO over the past five years and has played an important role in the successful transformation of Deutsche Bank,” said Paul Achleitner, the Chairman of the Supervisory Board. “The Management Board is now well placed for the next strategic phase of Deutsche Bank.”
To expand its operations globally, Deutsche Bank announced several appointments in the past 12 months. Last year, the German firm announced that Olivier Vigneron, the former Managing Director at JPMorgan, will join Deutsche Bank as the Group Chief Risk Officer.
Moltke’s Professional Career
In his extensive career, Von Moltke worked with prominent financial services providers like Citigroup. He started his career at Credit Suisse First Boston in London in 1992. The newly appointed President of Deutsche Bank later joined JPMorgan and worked for almost a decade in New York and Hong Kong. During his professional journey, he also worked at Morgan Stanley.
Deutsche Bank’s CEO, Christian Sewing said: “This gives us the right governance structure to succeed in the long term in this time of increasing complexity and volatility. I am looking forward to implementing our growth strategy with our strong global management team.”
Recently, Deutsche Bank reported its financial results for the year ended 31 December 2021. During the mentioned period, the bank's profit before tax reached €3.4 billion. Furthermore, Deutsche Bank posted strong growth in its core businesses.
