Deutsche Rings In The Changes At Its Private, Business Clients Division In Germany

Tom Burroughes

18 July 2013

Deutsche Bank said its private & business clients corporate division in Germany will expand to cover around 11,500 mid-sized firms and public sector clients as part of a re-organisation this year that the Frankfurt-bank announced today.

Coverage of mid-sized corporate clients and small corporate clients, previously handled separately, will now operate under a single roof in a new private and commercial banking business division, Germany’s biggest bank said in a statement.

The new business division will be co-headed by Thomas Rodermann, who is spokesman of the management board of Deutsche Bank Privat- und Geschäftskunden, and Wilhelm von Haller, until recently chief executive of Germany private bank Sal Oppen-heim and former co-head of Deutsche’s commercial banking business in Germany.

“We are building a stronger domestic bank in Germany. As a client-centric universal bank, we will strengthen the collaboration between our corporate divisions, increase our client focus and improve client proximity. We want to further strengthen our leading market position in Germany, win new clients and new business, particularly from the small and mid-sized corporate client segment,” Jürgen Fitschen, co-chairman of the Management Board and CEO Germany, said.

Among other details, Deutsche Bank said the corporate banking and securities division will continue to advise about 1,400 large, global corporate clients that need capital market products and complex risk management solutions. Public sector clients with comparable needs will also be covered by CB&S.

Armin von Falkenhayn, co-head of CB&S Germany, will oversee this business, Deutsche Bank said.

“A key focus in building a stronger domestic bank is intensifying local coverage for mid-sized corporate clients. These clients will get access to 180 additional advisory centres in the Bank’s domestic branch network. Going forward, Deutsche Bank will provide commercial banking services to its mid-sized corporate clients from a total of 250 locations across the country,” it said.

The bank said it will strengthen its regional presence by appointing five regional heads, with a task to represent the firm as a universal bank and raise its regional profile.

The new regional heads are:

Cornel Wisskirchen (North Region, Hamburg); Harald Eisenach (East Region, Berlin); Ulrich Schürenkrämer (South Region, München); Martin Renker (West Region, Düsseldorf) and Andreas Torner (Central Region, Frankfurt am Main).

All regional heads will report to Fitschen in his role as CEO Germany.