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Deutsche Bank is changing: Raja Akram becomes the new CFO!
Deutsche Bank is changing its CFO: Raja Akram will take over from James von Moltke from 2024. Important changes for growth.
Deutsche Bank is changing: Raja Akram becomes the new CFO!
Deutsche Bank will have a new chief financial officer from January 1, 2024. James von Moltke will be replaced by Raja Akram. Akram, who is currently Vice Chief Financial Officer of US bank Morgan Stanley, will join Deutsche Bank on October 1, 2023. Von Moltke's contract runs until June 2026, but he has already announced that he is not available for another term.
Von Moltke has been CFO of Deutsche Bank for eight years and has also been deputy chairman of the board since 2022. After a transition phase, Akram will take over responsibility for finance. CEO Christian Sewing also received a contract extension until 2029 and will continue to manage the bank's business.
Changes in the board of directors and strategic decisions
Raja Akram will officially become a member of the Executive Board of Deutsche Bank on January 1, 2026. The new CFO brings extensive experience, having previously held various leadership positions at Citigroup from 2006 to 2020. Akram will be based in Frankfurt and is therefore well positioned to lead the bank's financial strategy.
In addition to the change in the finance department, Fabrizio Campelli will assume responsibility for the Americas region from May 1, 2025 and will receive a contract extension until 2028. The Supervisory Board has emphasized the importance of the Americas region as a growth driver. Stefan Simon, who has been a member of the Board of Directors since 2020 and most recently held the position of CEO for the Americas region, is leaving the bank for personal reasons. Paul Maley will take over his duties on an interim basis, while Christian Sewing will also assume Simon's legal and group governance responsibilities.
Alexander Wynaendts, Chairman of the Supervisory Board, praised James von Moltke's contribution to the bank's transformation and emphasized that Akram has the necessary experience to successfully lead the finance department db.com reported.
The strategic decisions and personnel changes are part of the initiative to align Deutsche Bank with the next phase of its growth strategy hessenschau.de noted.