Deutsche Bank hires former AXA CEO as head of Asset Management

Deutsche Bank has announced the appointment of Nicolas Moreau to join its Management Board, where he will be responsible for Asset Management as of 1 October.

Moreau joins from French insurance company Axa, where he has worked for 25 years, among others as CEO of AXA Investment Managers. Most recently he was in charge of AXA’s activities in France and served as a member of the Group Management Committee.

Based in London, Moreau will succeed Quintin Price, who joined the group last year and stepped down in June 2016 for health reasons.

“Nicolas Moreau has a deep knowledge of the asset management industry, both from a supplier and a client perspective,” Supervisory Board Chairman Paul Achleitner said. “In addition he possesses a wealth of experience as a member of the management board of a complex, global financial institution, providing the ideal basis for further developing Deutsche Asset Management.”

The Supervisory Board also decided to appoint Kim Hammonds and Werner Steinmüller to the Management Board of Deutsche Bank as of August.

Hammonds has been employed by Deutsche Bank since November 2013, where she was in charge of a major overhaul of the group’s IT systems. Since the beginning of 2016, Hammonds has been responsible for the bank’s entire technology and operations, including digital transformation, information security, data management and corporate services. She will retain her role as Group COO.

Hammonds joined Deutsche Bank in 1991 and has been in charge of transaction banking. Based in Hong-Kong, Steinmüller will manage business in the Asia-Pacific region.  He will remain in his role as Chairman of the Supervisory Board of Postbank.

 

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