The changes in its Luxembourg subsidiary are expected to take effect at the end of the year following final approval by the relevant regulatory authorities.

Frank Rückbrodt, currently group COO for the Europe, Middle East and Africa region, will move from Frankfurt to Luxembourg and become CEO of Deutsche Bank Luxembourg SA, general manager of Deutsche Bank, as well as group chief country officer for the grand duchy.

Having been with the group for 20 years, he has served as a member of the board of directors of Deutsche Bank SAE (Spain) and the supervisory board of Deutsche Bank SpA (Italy). He has also been a member of the supervisory board and audit committee of Deutsche Bank Luxembourg SA since 2016. He will retain his function of COO EMEA. 

He replaces Frank Krings who has been CEO of Deutsche Bank Luxembourg SA since 2016 and CEO of the group for Western Europe since July 2020. Krings will work from Paris and, in Luxembourg, will move from the management board to the supervisory board of Deutsche Bank Luxembourg SA. In France, he will also become managing director of Deutsche Bank and group chief country officer for France. 

Alexander Ilgen, CFO and deputy CEO of the group's private banking division, is set to become chairman of Deutsche Bank Luxembourg SA's supervisory board and succeed Ashok Aram. Bas Marteijn (Amsterdam) and Michelle Owen (London) will succeed Kees Hoving (Dubai) and Rachel Blanshard (London), who are leaving the supervisory board after several years of service. 

This article was originally published in French on Paperjam.lu and has been translated and edited for Delano.