Deutsche Bank

Deutsche Bank is expected to name James von Moltke as its new finance chief, replacing Marcus Schenck who is taking on a role as co-head of the investment bank.

A source close to the bank told Business Insider of the new hire, which was first reported by Bloomberg

Reuters as well as the Financial Times have reported the move too.

Deutsche Bank declined to comment to Business Insider, Reuters, the FT, and Bloomberg.

Von Moltke will join the giant German lender from Citi, where he worked as treasurer.

This is the latest in a line of prominent hires Deutsche Bank has made after a big shake-up to staffing, first reported by Matt Turner at Business Insider.

In March, Deutsche Bank promoted Schenck and retail head Christian Sewing as co-deputy chief executives alongside bank CEO John Cryan. It also said it would name a new CFO at a later stage.

In the same month, Deutsche Bank made a big hire in its San Francisco office. Glenn Rewick will join the firm as a managing director in Americas mergers and acquisitions, or M&A. Deutsche Bank also replaced its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick.

In April, Deutsche Bank revealed it has hired around 370 compliance and anti-financial crime staff in the past 12 months, despite reducing overall headcount by more than 3,000 in the same period.

Last month, Deutsche Bank said it is looking at “conducting preparatory steps” for a potential $8.5 billion capital raise.

Deutsche Bank’s capital position has long been a topic of discussion on Wall Street, and questions about capital have dominated recent earnings calls. In December, Deutsche Bank said it would pay $7.2 billion to the US Department of Justice, related to its issuance and underwriting of residential mortgage-backed securities (RMBS) and other activities between 2005 and 2007.

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