Jürg Zeltner (52) has been nominated as a new member of the Supervisory Board of Deutsche Bank AG. He should succeed Richard Meddings (61) who resigned from his Supervisory Board mandate after nearly four years with effect from July 31, 2019. He was nominated by the Nomination Committee of the Supervisory Board following completion of an external search process and in consultation with major shareholders.
Given that Zeltner is a co-investor in KBL European Private Bankers – where he was at the same time appointed Group Chief Executive Officer and member of the Board of Directors – and that the Qatar-based shareholder of that private banking group is simultaneously an investor in Deutsche Bank AG, Zeltner will be deemed a “non-independent member of the Supervisory Board,” in accordance with the German Corporate Governance Code.
“In Jürg Zeltner we are gaining a Supervisory Board member who is a top-level European banker with proven expertise in both Wealth Management and Private & Commercial Client Business, as well as risk management,” said Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank AG. “His many years of international experience and his undisputed expertise in these key growth areas are a valuable addition to the Supervisory Board.”
Achleitner added: “At the same I would like to express the warmest thanks of the entire Supervisory Board to Richard Meddings. As chairman of the Audit Committee and subsequently as a member of the Strategy Committee he made key contributions to the reorganisation of Deutsche Bank. His personal integrity and institutional experience were a great help to us all. We wish him continued success with his ongoing obligations.”
Zeltner is to be initially appointed a member of the Supervisory Board by the court and is expected to stand for election by the shareholders at the next General Meeting. Deutsche Bank AG submitted the corresponding court application, in line with the recommendation of the German Corporate Governance Code, to the Frankfurt Local Court on 15. August.
Jürg Zeltner has worked in the financial services sector for over 30 years in a variety of roles, including in Switzerland, Germany and across Europe, as well as in Asia, the Middle East and Latin America. From 1987 until the end of 2017, Zeltner worked for UBS, where his final position was as President of Wealth Management. From 2009, he was a member of the UBS Group Executive Board.
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Deutsche Bank AG
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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.
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