BROWSE BY TOPIC
Stories of Interest
- Canada's CIBC Completes $5Bn PrivateBancorp Buy
- Word ‘Women’ Literally Never Appears in U.S. Senate’s 142-Page Health-Care Bill
- Stephen Pierce, Goldman Sachs Global Head of Equity Markets, To Retire
- Al Gore 'Not Very Smart,’ But Became Filthy Rich Using Simple Investing Formula - Charlie Munger
- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
- Senate Republicans Release Plan to Replace Obamacare - The Details
- Berkshire Hathaway Throws $1.5Bn Lifeline to Canada's Home Capital
- Inside Nomura: Day in the Life of a Junior Banker
- Inside Travis Kalanick’s Resignation as Uber’s C.E.O.
- Creative Planning, KS Investment Firm, Spurring Change on Wall Street
- SEC Obtains Judgment Against Attorney Who Defrauded Escrow Clients
- SEC Files Fraud Charges Against Stock Promoters in Market Manipulation Scheme
- Power Lunches and Dinners in New York, London, Washington
- Banks to Cut $1.2Bn in Research Spending, Analyst Jobs - McKinsey
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
Deutsche Bank Reorg Plan to Profitability
[Photo: Garth Ritchie and Dr. Marcus Schenck / DB Management Profiles]
Deutsche Bank has reorganized its investment bank in an effort to achieve greater efficiency and cost savings. What will change, beginning July 1?
- The markets, corporate finance and global transaction banking divisions will be combined into a single corporate and investment bank (CIB) - to reduce bureaucracy and simplify the organization.
- Marcus Schenck and Garth Ritchie will co-head the CIB.
- Marcus Schenck would concentrate on clients, overseeing corporate finance, global capital markets, and the bank's institutional client group.
- Garth Ritchie will focus on products and processes, supervising equities, fixed income and currencies, global transaction banking, electronic trading, listed derivatives and clearing, research and the division's technology and operations.
- Alexander von zur Muehlen and Mark Fedorcik will jointly head the new global capital markets division - from Frankfurt and New York, respectively.
DR. MARCUS SCHENCK PROFILE. Schenck is DB's Chief Financial Officer. In January 2015, Mr. Schenck joined Deutsche Bank from Goldman Sachs International, where he was Partner and Head of Investment Banking Services for Europe, Middle East & Africa (EMEA). He also was a member of the Operating Committee of the Investment Banking Division of Goldman Sachs. From 2006 to 2013, Dr. Schenck was CFO and a member of the Management Board of German energy supplier E.ON. From 1997 to 2006, he held a number of senior positions at Goldman Sachs in Frankfurt. Prior to that, he was a consultant at McKinsey & Company.
GARTH RITCHIE PROFILE. Ritchie is DB's Head of Corporate & Investment Bank. He joined Deutsche Bank in 1996 and had been Head of Equities in the Corporate Banking & Securities business division since 2010. He held positions in trading and derivatives for over 2 decades.