Deutsche Bank has appointed Marcus Schenck, a Goldman Sachs Group partner, to replace Stefan Krause, its finance chief.
After stepping down as finance chief, Krause will take over a newly created position within the company, where he will be responsible for strategy, cost cutting and other issues.
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Before joining the bank in 2008, Krause worked at auto maker BMW.
Schenck’s new role will be effective from May 2015.
Schenck, most recently served at Goldman Sachs’s London offices, where he oversaw investment-banking services in Europe, the Middle East and Africa.
Prior to joining Goldman Sachs last year, Schenck served as finance chief of German utility E.ON from 2006 to 2013.
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By GlobalDataAs part of other personnel changes, Deutsche Bank’s senior audit executive, Christian Sewing, will now be made responsible for dealing with the bank’s legal and legacy issues, while Henry Ritchotte, the bank’s chief operating officer, will now take over the responsibility for digital and information-technology issues.
