Management Board member Kim Hammonds will be leaving Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB). By mutual agreement with the Supervisory Board her tenure at the bank will end at the Annual General Meeting on May 24, 2018. Ms Hammonds joined Deutsche Bank in 2013 as Co-Head Technology and Operations and was promoted to Group Chief Operating Officer and member of the Management Board in August 2016.
“Kim Hammonds has been a breath of fresh air, bringing an outsider’s perspective with deep experience in transformational change” said Paul Achleitner, Chairman of the Supervisory Board. “She has built the digital, data and security platforms which are strong foundations for our company. We wish her well in her new endeavours.”
Chief Executive Officer Christian Sewing also thanked Hammonds for her service and achievements: “She has hired and promoted outstanding people – we can build on them as we continue modernising the bank’s IT and accelerating digitalisation.”
Kim Hammonds said: “The Global COO team has done an outstanding job running the Bank and has implemented the necessary foundations. I know Deutsche Bank is well on track to regain its position as a leading financial institution. I wish Deutsche Bank every success and I would thank the entire team for working tirelessly to improve our bank.”
A new Group Chief Operating Officer is to be nominated in the near future following consultations with regulators.
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them.
These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 16 March 2018 under the heading “Risk Factors”.
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