Deutsche Bank’s board will nominate Alexander Wynaendts as the new chairman at the bank’s annual general meeting in May 2022.
If elected, Wynaendts will replace Paul Achleitner, who served as chairman for 10 years and decided not to run for re-election.
“It is a great honour to have been nominated by Deutsche Bank as a member of its supervisory board,” Wynaendts said.
“I very much look forward to joining this leading European-based financial institution and to serving the interests of Deutsche Bank’s stakeholders – its clients, employees, shareholders, and the communities in which it operates.
“I am committed to support the leadership team and all employees in continuing with the successful execution of its strategy.”
The former chief executive of insurance company Aegon N.V., Wynaendts helped the firm face the aftermath of the 2008 financial crisis, restoring the company’s balance sheet and securing a strong capital position.
Wynaendts is also serving in the board of several companies including Citigroup, Uber and Air France-KLM.
“I look forward very much to working with Alex Wynaendts,” added the group’s chief executive Christian Sewing. “He has vast experience in the financial industry and an excellent network, not only in Europe but also globally. Alex Wynaendts thus stands for what has always been Deutsche Bank’s identity.”
Wynaendts’s nomination was announced on the same day investment banking giant UBS announced former Morgan Stanley’s boss Colm Kelleher as the potential new chairman and Axel Weber’s successor.