Christian Sewing, currently co-deputy chief executive officer of Deutsche Bank, is to become the new CEO of Germany’s biggest lender, replacing John Cryan, Der Spiegel magazine reported on its website on Sunday.
A spokeswoman for Deutsche Bank declined to comment.
The German magazine said that Chairman Paul Achleitner will nominate Sewing at a hastily called board meeting on Sunday evening. Sewing would assume the helm at the company’s annual general meeting in May, the report .
Deutsche Bank AG is a German investment bank and financial services company, with its headquarters in the Deutsche Bank Twin Towers in Frankfurt. It has more than 100,000 employees in over 70 countries, and has a large presence in Europe, the Americas, Asia-Pacific and the emerging markets. As of June 2017 Deutsche Bank is the 16th largest bank in the world by total assets. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a market share of 21 percent.