Deutsche Bank picks up directors in London, New York
Deutsche Bank might be feeling the heat over the scale of its recent hiring – especially when that hiring hasn’t bumped the bank above its rivals in terms of key performance metrics – but that doesn’t mean the bank hasn’t been adding to its suite of directors across the world.
Its latest director recruits include Carl-Philip Sonnemann. Sonnemann, who joined Deutsche’s emerging markets structuring team, spent 14 years with Standard Chartered’s team across London and Hong Kong. He joined DB in London in a similar role
In New York, Deutsche hired Matthew Weber. Weber joined Deutsche Bank in New York after eight years with Credit Suisse’s M&A team in the city. He was a director when he left – and he’s also one with Deutsche Bank’s consumer retail team.
Deutsche Bank has been hiring relatively wildly, by the standards of its peers (who are in some pretty deep job cuts across the board). The scale of hiring is putting a lot of pressure on the bank, and especially some of its senior staff, especially Fabrizio Campelli, the head of its corporate and investment bank. CFO James von Moltke’s comments last month that the bank has “a lot of work to do” to tackle rising costs is also hanging ominously over the whole situation. The more new directors it hires, the more existing directors it may need to let go - or pay less at bonus time.
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