The head of Deutsche Bank will have to do without Karl von Rohr at his side in the future.
(Photo: dpa)
Frankfurt Deutsche Bank boss Christian Sewing loses one of his deputies. Karl von Rohr informed the supervisory board of his desire not to extend his management board contract beyond the planned end of October 31, 2023, the largest domestic financial institution announced on Tuesday evening. The 58-year-old is responsible for Deutsche Bank’s private customer business and heads the supervisory board of the fund subsidiary DWS.
With this step von Rohr ended months of speculation about his professional future. Last fall it was leaked that the new chairman of the supervisory board of Deutsche Bank, Alexander Wynaendts, was critical of Rohrs’ contract extension.
In financial circles, this was partly attributed to Rohrs’ crisis management at DWS. The fund subsidiary is accused of having systematically presented its commitment to sustainable investments in an overly positive manner in the past. Others familiar with the discussions believe the board wants a more empowering style of leadership in the retail division.
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