April 12, 2019 / 10:31 AM / 11 days ago

Deutsche Bank CEO and chair to stay in top roles after possible merger: Spiegel

FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt, Germany, February 1, 2019. REUTERS/Kai Pfaffenbach -/File Photo

FRANKFURT (Reuters) - Deutsche Bank’s current Chief Executive Christian Sewing and Chairman Paul Achleitner would continue to lead the bank if it merges with Commerzbank, a German magazine reported on Friday.

Der Spiegel, citing no sources, reported that Commerzbank’s CEO Martin Zielke would serve as deputy CEO of the combined group in charge of private and corporate banking.

Both banks declined to comment.

If the banks merge, Garth Ritchie of Deutsche Bank would continue to lead the investment bank, Spiegel reported.

Frank Strauss, who heads Deutsche’s retail bank would have to leave his position, the report said.

Achleitner would hold his post as chair of Deutsche Bank at least for a transition phase, Spiegel said.

Reporting by Tom Sims and Andreas Framke; editing by Thomas Seythal and David Evans

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