Deutsche Bank announced today that Thomas Mayer, Chief Economist of Deutsche Bank Group and Head of DB Research, intends to divide his time between academic research and advising the Bank’s senior management and clients. Effective May 31, 2012, he will step down as Chief Economist and Head of DB Research.
Josef Ackermann, Chairman of the Management Board and the Group Executive Committee at Deutsche Bank, said: “Thomas Mayer is a highly respected economist and has been a trusted advisor to me during the financial and economic crisis, for which I am greatly indebted to him. I am very pleased that he will continue to serve the Bank and its clients in an advisory role.”
Thomas Mayer, Chief Economist of Deutsche Bank Group and Head of DB Research, said: “Deutsche Bank has a long tradition of exchange between research and academia. I am delighted to have the opportunity to pursue independent research alongside my work with Deutsche Bank’s senior management.”
As announced on March 16, David Folkerts-Landau, Head of Markets Research at Deutsche Bank, will become Head of Research effective on June 1 and will assume Mayer’s duties as Chief Economist of Deutsche Bank Group and Head of DB Research.
David Folkerts-Landau said: “Thomas and I have worked together for over two decades at Deutsche Bank and the International Monetary Fund. I look forward to benefiting from his advice as we further strengthen the macroeconomic analysis which has been successfully provided by DB Research out of Frankfurt for many years.”
Before Mayer joined DB Research in Frankfurt in 2010, he spent seven years as Chief European Economist in London and co-head of the Bank’s Global Economics Group at Deutsche Bank Markets Research.
He previously worked for Goldman Sachs in Frankfurt and London from 1991 to 2002. Before moving to the private sector, he held positions at the International Monetary Fund in Washington, D.C., from 1983 to 1990 and at the Kiel Institute for the World Economy from 1978 to 1982. He received a Ph.D. in economics from the University of Kiel in 1982 and has been a CFA Charterholder since 2002.
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