Deutsche Bank focuses on GTB
Amid discussions over a merger with Commerzbank, additional cuts to staff across Europe and the release of the bank’s 2018 annual results, it’s no surprise that the appointment of Ole Matthiessen as global head of cash management at Deutsche Bank received little attention last week.
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Ole Matthiessen, |
Matthiessen has been with Deutsche Bank since 2008. In his previous role, he was a managing director leading global foreign exchange structuring for the bank.
Matthiessen will take over from Stefan Hoops, head of global transaction banking (GTB), who held the cash management role on an interim basis.
Before this, Michael Spiegel ran Deutsche’s global cash management business for more than 10 years.
Spiegel is not going too far: he is set to lead a newly founded unit within the investment banking business. One of the main functions of the new unit is to market treasury products to the bank’s corporate clients.
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Christian Sewing, |
This new unit under Spiegel and the appointment of Matthiessen aim to strengthen the relationship between investment and transaction banking for Deutsche Bank, which plans to focus on treasury – a core group for both areas of the bank – and reflects the new direction taken by CEO Christian Sewing.