Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced today that Quintin Price, Head of Deutsche Asset Management and a member of the Management Board, will be leaving the Bank.
After commencing a period of medical leave in mid-April, Mr. Price has now asked the Bank to end his contract effective June 15. At its meeting today, the Supervisory Board accepted his request. Mr. Price represented Asset Management on the Management Board from January 2016 until his medical leave in mid-April.
Paul Achleitner, Chairman of the Supervisory Board, thanked Mr. Price for his service. Mr. Price helped to realign the strategy of Deutsche Asset Management and establish a new leadership structure.
Paul Achleitner said: “We are grateful to Quintin for his contributions to the Bank and regret that he is unable to continue his efforts for Deutsche Bank. He was instrumental in creating a strong Executive Committee under the leadership of Jon Eilbeck. The Supervisory Board respects Quintin’s decision to focus on his treatment plan. We sincerely wish him all the best.”
The Supervisory Board has begun to search for a successor to lead Deutsche Asset Management. In the meantime, Jon Eilbeck, Global Chief Operating Officer and Regional Head of Asia Pacific at Deutsche Asset Management, will continue to lead operational responsibilities for the business.
Mr. Price joined Deutsche Bank in October 2015 and became a member of the Management Board in January 2016.