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Deutsche Bank economist Thomas Mayer to step down
April 13, 2012 / 3:51 PM / 5 years ago

Deutsche Bank economist Thomas Mayer to step down

* Latest senior bank official to leave post

* Reshuffling comes as new co-CEOs take over

* Folkerts-Landau to replace Mayer

FRANKFURT, April 13 (Reuters) - Deutsche Bank’s chief economist Thomas Mayer, a key advisor to the outgoing chief executive, will step down next month, the latest senior figure to leave following a management reshuffle.

Germany’s flagship lender said on Friday that London-based David Folkerts-Landau, currently head of markets research, will take on Mayer’s duties as chief economist of Deutsche Bank Group and head of DB Research.

Designated co-chief executives Anshu Jain and Juergen Fitschen, are set to take over from Josef Ackermann after he retires at the end of May.

“Thomas Mayer is a highly respected economist and has been a trusted advisor to me during the financial and economic crisis,” Ackermann said in a statement on Friday.

Deutsche Bank said Mayer, who is based in Frankfurt, will retain an advisory role after he steps down on May 31 and intends to divide his time between academic research and advising the bank’s senior management and clients.

Deutsche Bank Research is responsible for delivering independent macroeconomic analysis within the group, spotting trends and risks within financial markets.

Folkerts-Landau is slated to join Deutsche Bank’s group executive committee on June 1.

Reporting By Edward Taylor; Editing by Erica Billingham

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