Deutsche Bank Taps Richard Stewart for Group Treasurer Position

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Deutsche Bank Taps Richard Stewart for Group Treasurer Position

<p>Deutsche Bank, based in Germany,  has doubled the capacity of Richard Stewart by appointing him as the Group Treasurer of the multinational investment bank.</p><p> Currently, Stewart is the Head of the Capital Release Unit of Deutsche Bank and reports to Rebecca Short, the bank's Chief Transformation Officer.</p><p>However, in his new role, which will take effect next Monday, September 19, he will report to James von Moltke, the bank's Chief Financial Officer (CFO).</p><p>von Moltke in <a href="https://www.db.com/news/detail/20220913-deutsche-bank-appoints-richard-stewart-as-group-treasurer?language_id=1">a statement</a> from <a href="https://www.financemagnates.com/tag/deutsche-bank/">Deutsche Bank</a> praised the executive for his contribution to the investment company's transformation.</p><p>Additionally, the CFO expressed confidence in Stewart's qualification for the role and lauded his experience and achievements in capital and balance sheet management.</p><p>"Under Richard's leadership, the Capital Release Unit continued to reduce <a href="https://www.financemagnates.com/terms/l/leverage/" target="_blank" id="df61d302-43af-41c3-a06a-e37426a0c2c0_1" class="terms__main-term">leverage</a> exposure and risk-weighted assets, freeing up capital from non-strategic activities, while simultaneously delivering substantial cost reductions," von Moltke said on Stewart's experience in his current role.</p><p>Speaking about his appointment, Stewart noted that he was looking forward to building on the successes the team has achieved in the past few years.</p><p>The "Treasury has played a vital role in supporting Deutsche Bank's transformation agenda, delivering capital and balance sheet strength, achieving significant improvements in resource efficiency and cost of funding as well as completing a string of successful capital market issuances. This gives us a strong platform for the future," he explained.</p><p>Recent Moves</p><p>In March, Deutsche Bank <a href="https://www.financemagnates.com/executives/moves/deutsche-bank-appoints-james-von-moltke-as-president/">promoted von Moltke</a>, who still serves as the CFO, to the position of President. He acts in the capacity of President alongside Karl von Rohr.</p><p>"James von Moltke has done outstanding work as a CFO over the past five years and has played an important role in the successful transformation of Deutsche Bank," said Paul Achleitner, the Chairman of the Deutsche Bank Supervisory Board.</p><p>Meanwhile, Asoka Woehrmann, the Chief Executive Officer of DWS Group, a German asset manager and Deutsche Bank subsidiary, <a href="https://www.financemagnates.com/executives/moves/deutsche-bank-executive-resigns-over-greenwashing-allegations/">resigned from his position</a> in June. </p><p>This followed allegations that the group was engaging in 'greenwashing' by exaggerating the sustainable credentials of certain funds it had sold.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: Deutsche Bank Taps Richard Stewart for Group Treasurer Position