Deutsche Bank: Deutsche Bank appoints new CFO - Sewing to stay until 2029

Deutsche Bank will have a new Chief Financial Officer next year. James von Moltke has announced that he will not be renewing his contract, which expires in June 2026, after eight years in office, the largest German bank announced on Thursday in Frankfurt following a Supervisory Board meeting. It was "time for something new", the 55-year-old wrote in a letter to his employees that was made available to Reuters. The fact that the bank wanted to launch the next phase of its strategy this year was "the right opportunity for a change". Von Moltke's successor is already in place: Raja Akram will join Deutsche Bank from Morgan Stanley on October 1. In contrast, the bank is maintaining continuity at the top: the contract of CEO Christian Sewing has been extended early until April 2029, Deutsche Bank explained. In contrast to the previous extension, however, Sewing will only receive an additional three years. He would be 59 years old when his new contract expires. "We on the Supervisory Board are convinced that Christian is the right person to lead the bank through the next phase of its strategy," explained Alexander Wynaendts, Chairman of the Supervisory Board. Sewing has been at the helm of the bank since 2018 and has since undergone major restructuring. Pakistani-born Akram, who came to the USA at the age of 17, is to join the Management Board in January and replace von Moltke, who has been responsible for the bank's finances for eight years, in the first half of 2026. Akram has been Deputy Chief Financial Officer at US investment bank Morgan Stanley since 2020, having previously worked for Citigroup . At times, he also worked there together with von Moltke. Sewing praised Akram in a letter to the staff: "He enjoys an excellent reputation as one of the most capable financial managers in the industry, and I also greatly value his qualities as a leader." Von Moltke has "made a significant contribution to ensuring that we are fully on track to achieve our ambitious targets at the end of this year". In addition to von Moltke, the Management Board member responsible for the Americas business and legal matters, Stefan Simon, is also leaving the bank at the end of April - "for personal reasons", as it was reported. Simon moved from the Supervisory Board to the Management Board in 2020. Fabrizio Campelli, who is responsible for the corporate and investment banking business from London, will be responsible for the Americas from May. His contract was also extended by three years until October 2028. In future, CEO Sewing himself will be responsible for legal and regulatory issues. (Report by Alexander Hübner, edited by Scot W. Stevenson; if you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets)). James von Moltke has announced that he will not be renewing his contract, which expires in June 2026, after eight years in office, the largest German bank announced on Thursday in Frankfurt following a Supervisory Board meeting. It was "time for something new", the 55-year-old wrote in a letter to his employees that was made available to Reuters. The fact that the bank wanted to launch the next phase of its strategy this year was "the right opportunity for a change". Von Moltke's successor is already in place: Raja Akram will join Deutsche Bank from Morgan Stanley on October 1. In contrast, the bank is maintaining continuity at the top: the contract of CEO Christian Sewing has been extended early until April 2029, Deutsche Bank explained. In contrast to the previous extension, however, Sewing will only receive an additional three years. He would be 59 years old when his new contract expires. "We on the Supervisory Board are convinced that Christian is the right person to lead the bank through the next phase of its strategy," explained Alexander Wynaendts, Chairman of the Supervisory Board. Sewing has been at the helm of the bank since 2018 and has since undergone major restructuring. Pakistani-born Akram, who came to the USA at the age of 17, is to join the Management Board in January and replace von Moltke, who has been responsible for the bank's finances for eight years, in the first half of 2026. Akram has been Deputy Chief Financial Officer at US investment bank Morgan Stanley since 2020, having previously worked for Citigroup . At times, he also worked there together with von Moltke. Sewing praised Akram in a letter to the staff: "He enjoys an excellent reputation as one of the most capable financial managers in the industry, and I also greatly value his qualities as a leader." Von Moltke has "made a significant contribution to ensuring that we are fully on track to achieve our ambitious targets at the end of this year". In addition to von Moltke, the Management Board member responsible for the Americas business and legal matters, Stefan Simon, is also leaving the bank at the end of April - "for personal reasons", as it was reported. Simon moved from the Supervisory Board to the Management Board in 2020. Fabrizio Campelli, who is responsible for the corporate and investment banking business from London, will be responsible for the Americas from May. His contract was also extended by three years until October 2028. In future, CEO Sewing himself will be responsible for legal and regulatory issues. (Report by Alexander Hübner, edited by Scot W. Stevenson; if you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets)).