asset management head, Kevin Parker
, will step down from his role as a member of the bank's group executive committee this spring. The change will take effect May 31, the day of Deutsche Bank's annual general meeting.
Pensions & Investments
from Deutsche Bank.
Parker joined Deutsche Bank in 1997 and has served as
head of asset management since 2002.
Parker will be one of two executives bidding adieu to the committee. The other is Pierre de Weck
, head of private wealth management.
At the same time, Deutsche Bank is expanding its executive committee to 18 members from the current 12. Click
to view the press release.
Word of Parker's impending departure from the executive committee comes three weeks
after Deutsche Bank said it has entered into exclusive talks
with Guggenheim Partners
regarding the sale of a portion of its asset management business, including its mutual fund
business in the Americas.
Armie Margaret Lee
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