Deutsche Bank to get new CFO in management shake-up

New York

GERMAN lender Deutsche Bank has announced a management shake-up that will move the chief financial officer, Stefan Krause, to a newly created post and give his duties to a Goldman Sachs Group partner, Marcus Schenck.

Deutsche Bank also named Christian Sewing to the management board with responsibility for legal affairs, in what appeared to be a stepped up effort to cope with an array of official investigations and lawsuits. Mr Sewing currently holds the title of global head of group audit at the bank.