Christian Sewing

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Christian Sewing
Born (1970-04-24) 24 April 1970 (age 51)
Bünde
NationalityGerman
Alma materFrankfurt School of Finance & Management
OccupationBanker, business executive
EmployerDeutsche Bank
TitleCEO of Deutsche Bank
Spouse(s)Married
Children4

Christian Sewing (German pronunciation: ['krɪsti̯an 'ze:vɪŋ]; born 24 April 1970 in Bünde) is a German banker who currently serves as the CEO of Deutsche Bank. He has been a member of the management board since 1 January 2015. On 8 April 2018 he was appointed chief executive officer (CEO) of Deutsche Bank.[1]

Early life[]

Sewing was born on 24 April 1970. He earned his Abitur in 1989. He completed an apprenticeship programme at Deutsche Bank in Bielefeld,[2] graduating with a banking qualification from the Chamber of Industry and Commerce in 1991. He then studied business administration at the Frankfurt School of Finance & Management, in Frankfurt.

Career[]

Sewing first worked in the branches of Deutsche Bank as a 19-year-old trainee in Bielefeld[3] and Hamburg, then as a junior corporate client advisor in Toronto, as Chief Credit Officer in Japan, and six years as a risk manager in London. From 2005 until 2007, Sewing was a member of the management board of  [de].

From 2010 to 2012, he was chief credit officer. He has worked in Frankfurt, London, Singapore, Tokyo and Toronto.[4] From 2012 to 2013, he was deputy chief risk officer. Sewing was head of group audit from June 2013 to February 2015, prior to which he held a number of management positions in risk management. From January 2016, Sewing oversaw Deutsche Bank's private and commercial banking division, which includes the lender's network of German retail branches, but has a low profile outside of Germany.[5] He earned 2.9 million euros for 2017.[6]

On 8 April 2018, Sewing became CEO at Deutsche Bank, replacing John Cryan.[7] That year, he led Deutsche Bank to its first profit in four years and launched talks with Commerzbank on a potential merger.[8] After his first year, his 7 million euro compensation made him one of the best paid chief executives in European banking.[9] As of September, Christian will spend 15% of his monthly net salary buying the German lender’s shares as part of his efforts to revive the bank's profitability. [10]

Sewing was the head of Deutsche Bank's audit division during Deutsche Bank's $10 billion money-laundering scandal involving its Moscow operations. The auditing division gave its Moscow office a clean bill of health, despite serious irregularities.[11] According to the terms of Deutsche Bank's settlement with the SEC, Sewing must “annually certify that the German lender is adhering to a recent settlement in which U.S. authorities fined the firm for violating swaps reporting rules.”[12] This change could hold Sewing criminally liable for future violations by the bank.[13]

Other activities[]

Government agencies[]

Corporate boards[]

Non-profit organizations[]

Personal life[]

Sewing is a passionate tennis player.[21] He is married with four children.[22]

References[]

  1. ^ "Christian Sewing to become new CEO of Deutsche Bank". CNBC. 2018-04-08. Retrieved 2020-04-21.
  2. ^ Farrell, Sean (2019-07-08). "Deutsche Bank boss Christian Sewing not squeamish about job cuts". The Guardian. ISSN 0261-3077. Retrieved 2020-04-17.
  3. ^ Schaer, Cathrin (April 9, 2018). "Christian Sewing, former Deutsche Bank intern, now runs the show". Handelsblatt.
  4. ^ Framke, Andreas; Sims, Tom (2018-04-09). "Deutsche Bank picks retail specialist Christian Sewing as CEO". Reuters. Retrieved 2020-04-17.
  5. ^ Deutsche Bank Appoints Christian Sewing To Succeed John Cryan As CEO Nasdaq.com, retrieved 9 April 2018
  6. ^ Tom Sims (March 22, 2019), Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years Reuters.
  7. ^ Deutsche Bank Replaces CEO John Cryan With Retail-Bank Chief wsj.com, retrieved 9 April 2018
  8. ^ Tom Sims (March 22, 2019), Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years Reuters.
  9. ^ Tom Sims (March 22, 2019), Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years Reuters.
  10. ^ "Deutsche CEO to invest 15% of monthly net pay in bank's shares". Reuters. 2019-09-02. Retrieved 2019-09-02.
  11. ^ "How Deutsche Bank Let Crooked Clients Run Rampant". BuzzFeed News. Retrieved 2020-10-24.
  12. ^ Kelly, Jack. "Deutsche Bank CEO Christian Sewing Could Be Held Criminally Responsible For His Bank's Activities". Forbes. Retrieved 2020-10-24.
  13. ^ Kelly, Jack. "Deutsche Bank CEO Christian Sewing Could Be Held Criminally Responsible For His Bank's Activities". Forbes. Retrieved 2020-10-24.
  14. ^ International Advisory Panel Monetary Authority of Singapore.
  15. ^ Presidium Federation of German Industries (BDI).
  16. ^ Board of Directors Association of German Banks (BdB).
  17. ^ Meike Schreiber (April 19, 2021), Im Ehrenamt nun auch Lobbyist Süddeutsche Zeitung.
  18. ^ Board Institute of International Finance (IIF).
  19. ^ Board of Trustees Archived 2019-12-28 at the Wayback Machine Working Group of Protestant Businesses (AEU).
  20. ^ Board Stifterverband für die Deutsche Wissenschaft.
  21. ^ "Christian Sewing, former Deutsche Bank intern, now runs the show". Handelsblatt global. Retrieved 24 October 2018.
  22. ^ "A New CEO Plans Big Cuts to Mend Deutsche Bank". Bloomberg Businessweek. Retrieved 24 October 2018.
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