DB - Deutsche Bank COO poised to exit in management restructuring

As part of a management revamp, Deutsche Bank (DB) Chief Operating Officer Frank Kuhnke is likely to leave the company when his contract expires later this year, Bloomberg reports, citing people familiar with the matter.DB could make the announcement as early as this week. Kuhnke, one of CEO Christian Sewing's first appointments, likely won't have his contract renewed, they said. His responsibilities could be split up among existing board members.A Deutsche Bank spokesman declined to comment to Bloomberg on the matter, and Kuhnke didn't respond to their request for comment.Bloomberg also reported that Sewing is poised to give up his role as head of the investment bank, with Fabrizio Campelli seen as the lead candidate to take the role.Campelli's current responsibilities include human resources, which will likely be given to someone else.Earllier, Deutsche Bank's is among the big bank stocks falling in premarket trading after Archegos Capital collapses.

For further details see:

Deutsche Bank COO poised to exit in management restructuring