Deutsche Bank has named Alexander von zur Mühlen as the new CEO of its Asia Pacific arm, replacing Werner Steinmüller.
Mühlen will take on the new role on 1 August 2020.
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He has been working at Deutsche Bank since 1998.
He has held various roles at the bank, including co-head of Debt Capital Markets in Europe, group treasurer, co-head of Global Capital Markets, and global head of group strategy.
A 30-year veteran at Deutsche Bank, Steinmüller will retire from the management board on 31 July but will remain in an advisory role at the bank till the end of 2020.
Deutsche Bank supervisory board chairman Paul Achleitner said: Achleitner added: “In Alexander von zur Mühlen we have found an excellent in-house successor to Werner Steinmüller.
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By GlobalData“As a recognised strategist and internationally experienced capital markets expert, he possesses all the skills and attributes needed to develop our Asia Pacific business and further advance our regional strategy.”
In a separate move, Deutsche Bank general counsel Florian Drinhausen quit the bank on 31 May 2020 by mutual agreement.
The bank has not yet named his replacement.
The designated chief legal officer Stefan Simon will directly oversee the legal department till a replacement is appointed.
Drinhausen had been with the company since 2014.
In Q1 2020, Deutsche Bank’s profit before tax stood at €206m, driven by bank levies of €503m, transformation-related effects of €172m and ongoing Capital Release Unit wind-down costs.
