Management reshuffle at Deutsche Bank Luxembourg

Frank Krings, CEO of Deutsche Bank Luxembourg since 2016 and the Group’s CEO for Western Europe since July 2020, will move to Paris starting next year. He will take the role of general manager of Deutsche Bank and the Group’s chief country officer for France.

In Luxembourg, Krings will move from the Management Board to the Supervisory Board of Deutsche Bank Luxembourg.

Frank Rückbrodt, the Group’s chief operating officer for Europe, Middle East and Africa, will move from Frankfurt to Luxembourg and will take over as CEO of Deutsche Bank Luxembourg, general manager of Deutsche Bank as well as the Group's chief country officer for the Grand Duchy.

Rückbrodt has been with Deutsche Bank for over 20 years in various roles including as member of the board of directors of Deutsche Bank S.A.E. (Spain) and the Supervisory Board of Deutsche Bank S.p.A. (Italy). He has also been a member of the Supervisory Board and the Audit Committee of Deutsche Bank Luxembourg since 2016. He will keep his COO EMEA function.

Alexander Ilgen, chief financial officer and chief operating officer of the Group’s private bank division, reporting to the Group management board, will in addition become the chairman of the supervisory board of Deutsche Bank Luxembourg and succeed Ashok Aram, who is resigning from his statutory position upon leaving the Group.

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