Deutsche Bank to Name James von Moltke CFO--Sources

By Jenny Strasburg Features Dow Jones Newswires

Deutsche Bank AG plans to name Citigroup Inc. Treasurer James von Moltke, a former investment banker, as the German lender's new finance chief, according to people familiar with the matter.

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Mr. von Moltke has been Citigroup's treasurer since September 2015, after serving as the U.S. bank's global head of financial planning and analysis. He joined Citigroup in 2009 as head of corporate mergers and acquisitions, working to sell brokerage and other assets and oversee acquisitions for the bank. He previously worked at Morgan Stanley.

The planned appointment would fill a senior Deutsche Bank management role currently held by Marcus Schenck. Mr. Schenck, who has been CFO since May 2015, in March was named a deputy chief executive officer of Deutsche Bank under CEO John Cryan and will co-head the sprawling investment-banking division, including its trading business.

Mr. von Moltke, who is based in New York, couldn't immediately be reached for comment. Bloomberg earlier reported the planned appointment. A Citigroup spokeswoman declined to comment.

Deutsche Bank's new finance chief will be under pressure to deliver intensive cost-cutting at the bank as it attempts to revive lackluster results in its biggest businesses. The lender this month completed an $8.5 billion capital increase through its third share sale since 2013.

-Write to Jenny Strasburg at jenny.strasburg@wsj.com

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(END) Dow Jones Newswires

April 28, 2017 04:40 ET (08:40 GMT)