Deutsche Bank AG (NYSE:DB) shares are trading at a higher premarket today. The bank disclosed that its Supervisory Board has appointed Laura Padovani as Chief Compliance and AFC Officer.
Effective July 1, Padovani will oversee Compliance and Anti-Financial Crime (AFC) and join the Management Board.
Padovani became part of Deutsche Bank in April 2023 as Chief Compliance Officer, having previously held significant roles in Compliance and AFC at various leading financial institutions.
Padovani takes over from Stefan Simon to oversee Compliance and AFC, marking a new phase in enhancing Deutsche Bank’s control environment.
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This shift aims to empower control functions to better monitor and challenge business units, thereby strengthening the bank’s resilience and aligning its control framework with industry standards.
Effective September 1, Nita Patel will join Deutsche Bank as Head of AFC and Group Anti-Money Laundering Officer.
Alexander Wynaendts, Chairman of Deutsche Bank’s Supervisory Board, said, “Laura Padovani has already made important contributions to strengthening our control environment since joining Deutsche Bank 14 months ago.”
Christian Sewing, Chief Executive Officer, added: “Laura Padovani’s focused mandate and her comprehensive experience in developing control processes will enable a better integration of day-to-day control tasks within the business units, while ensuring that our control functions can focus on further improving our overall framework. In doing so, we are implementing a best-practice approach and setting up our control environment for the long run.”
Price Action: DB shares are up 3.14% at $16.44 premarket at the last check Monday.
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