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World’s Best Bank Transformation 2020: Deutsche Bank

Its reincarnation as a sensible corporate bank is still a work in progress, but Deutsche’s achievements so far deserve recognition.

World's Best Bank Transformation: Deutsche Bank | Euromoney Awards for Excellence 2020

Even on Skype, Euromoney can see Fabrizio Campelli’s face light up.

“Ah, relevance,” he says, savouring the word. “It’s a good place to start.”

He’s underplaying it. For a firm like Deutsche Bank, where Campelli is chief transformation officer, it’s more than just a good place to start.

The concept of relevance is at the core of how chief executive Christian Sewing has been pitching the project he embarked on in 2019, a project that aims to overhaul what had become a lumbering and bloated institution that no longer knew what it stood for.

“Being relevant means competing in the segments and geographies where we can win, and to shed the rest,” says Campelli.