People Moves

Another Executive Quits Deutsche Bank

Josh O'Neill, Assistant Editor, 20 April 2018

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Germany's largest lender has lost another senior figure following weeks of tumult as it shuffled its leadership.

Deutsche Bank’s chief operating officer, Kim Hammonds, will leave the bank next month, the latest executive to exit the embattled German lender. 

Hammonds’ tenure at the bank will end on 24 May, when the bank is scheduled to hold its annual general meeting. 

She joined Germany’s largest lender in 2013 as co-head of technology and operations, and was later promoted to group COO and made a member of the management board in August 2016.

“Kim Hammonds has been a breath of fresh air, bringing an outsider’s perspective with deep experience in transformational change” Paul Achleitner, chairman of the supervisory board, said. “She has built the digital, data and security platforms which are strong foundations for our company. We wish her well in her new endeavours.” Deutsche Bank will appoint a new COO “in the near future,” it said, following consultations with regulators. 

Earlier this month, Deutsche Bank named Christian Sewing as its new chief executive, replacing John Cryan and ending weeks of speculation as to who would be his successor. 

Deutsche Bank has seen its share price come under pressure, while the Frankfurt-listed lender has battled to restore profitability.

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