In its latest high-level shuffle, Germany's largest bank has appointed the CIO of its asset and wealth management to head up its retail banking business.

Deutsche Bank has appointed Asoka Wöhrmann and Stefan Bender as the new heads of its private and commercial banking in Germany.

Wöhrmann, who joined the bank back in 1998 and has most recently served as chief investment officer of Deutsche Asset & Wealth Management, will become head of retail banking in December.

Bender, who joined in 1997, is head of global transaction banking in Germany and co-head of corporate finance in Germany. He will step into the additional role of head of commercial banking in October.

The pair replace Peter Schedl and Wilhelm von Haller, who will step down from their roles at the end of the month. They will take on responsibility for eight million private, commercial and corporate clients in Germany, and report to Christian Sewing, a member of the bank's management board and head of its private and business clients corporate division.

“In Asoka Wöhrmann and Stefan Bender, we have gained two renowned and successful managers from within our own Bank for the realignment of our domestic Private and Commercial Banking business,” said Sewing.

“This realignment will involve significantly strengthening our advisory banking business with private clients, further expanding our business with small and medium-sized enterprises, Germany’s ‘Mittelstand’, and closely networking our branches with our rapidly growing digital banking service.”

In June this year, Deutsche Bank appointed John Cryan to take the reins from co-chief executive Anshu Jain and in May, it announced Stefan Krause will hand his chief financial officer role to Marcus Schenck.