Deutsche Bank’s latest private-banking plan is a reorganization, rather than a restructure or a reshuffle. It is designed to streamline, to eliminate duplication and inefficiency, to hone reporting lines, and to squeeze the most out of key investments in digital.
At the heart of the process is Claudio de Sanctis. On July 1, the Italy-born wealth manager was promoted by chief executive Christian Sewing from head of international private bank (IPB) to head of the private bank and member of the management board, with a clear remit to oversee the German lender’s global wealth-management and private-banking operations.
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