German lender Deutsche Bank will have a new CEO for its Asia Pacific Business. He replaces Werner Steinmüller who will retire by the end of July, but continue to serve the bank in an advisory role until the year-end.
The Supervisory Board of Deutsche Bank has appointed Alexander von zur Mühlen to the Management Board effective August 1, 2020. He will take charge of the bank’s Asia Pacific business when Werner Steinmüller retires from the Management Board on July 31. Steinmüller will continue to serve the bank in an advisory role until the year-end, the firm announced in a media release on Thursday.
Alexander von zur Mühlen joined Deutsche Bank in 1998 after studying business management. Following a variety of roles in investment banking, lastly as Co-Head of Debt Capital Markets in Europe, he was appointed Group Treasurer in 2009. In this function, he managed the bank’s capital, liquidity, and funding.
Exploring a Potential Merger
In 2017 he was appointed Co-Head of Global Capital Markets and one year later named Global Head of Group Strategy, in summer 2018. In this function, he played a key role in exploring a potential merger with Commerzbank at the start of 2019 as well as in preparing the strategy that was announced in summer 2019.
In his nearly 30 years of service at Deutsche Bank, Werner Steinmüller has been instrumental in developing significant areas of the Group. «Both the transaction bank, which he managed for several years, and most recently the APAC business, are crucial to Deutsche Bank’s future,» said Supervisory Board Chairman Paul Achleitner.
