Deutsche Bank Backs Nomination of Ex-Aegon Chief as Chairman
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Deutsche Bank’s supervisory board committee supported the nomination of a new chairman, formerly from Dutch insurance firm Aegon.
The supervisory board committee fully backed the nomination of Alexander Wynaendts as the German lender’s new chairman and he now awaits the appointment to be confirmed by shareholder votes in May, according to a report citing an internal memo.
If successful, Wynaendts will succeed current chairman Paul Achleitner, another former insurance executive from Allianz.
Wynaendts has experience in the fields that always made Deutsche Bank stand out: strong expertise in retail, corporate, and capital markets business as well as in asset management – and a global network, said Deutsche Bank chief executive Christian Sewing in the memo.
Wynaendts has over 30 years of experience in the financial sector, serving as CEO and chairman of Aegon from 2008 to 2020 after first joining the Hague-headquartered insurer in 1997.
At Aegon, Wynaendts led the insurer through a 3 billion euro ($3.39 billion) state bailout and restructuring in the midst of the 2008 financial crisis.
He began his financial services career with ABN AMRO in 1984, working in the Dutch lenders’ private banking and investment banking operations in Amsterdam and London.
Questions & Answers
Q.What experience does Alexander Wynaendts bring to Deutsche Bank?
What experience does Alexander Wynaendts bring to Deutsche Bank?
He has over 30 years of financial sector experience, including serving as CEO and chairman of Aegon from 2008 to 2020. His expertise spans retail, corporate, capital markets business, and asset management, alongside a global network.
Q.Who is Alexander Wynaendts replacing as chairman?
Who is Alexander Wynaendts replacing as chairman?
Alexander Wynaendts is set to succeed Paul Achleitner as chairman. Achleitner is also a former insurance executive, having previously worked at Allianz before his role at Deutsche Bank.
Q.What is Alexander Wynaendts' background before joining Aegon?
What is Alexander Wynaendts' background before joining Aegon?
He began his financial services career in 1984 with ABN AMRO. He worked in their private banking and investment banking operations in both Amsterdam and London before joining Aegon in 1997.
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