Fabrizio Campelli becomes head of the newly created Management Board function for Transformation and Human Resources

As Deutsche Bank moves into the next phase of its radical transformation, it has today created a new Management Board function that brings together responsibility for Transformation and Human Resources. With immediate effect Fabrizio Campelli, most recently Global Head of Wealth Management, will take on this role as Chief Transformation Officer. His successor as Global Head of Wealth Management, with immediate effect, is the Head of Wealth Management in Europe, Claudio de Sanctis, who will also become a member of the Group Management Committee.

Deutsche Bank’s new Head of Human Resources will be Michael Ilgner, currently the CEO of Deutsche Sporthilfe (German Sport Aid Foundation). Effective March 1, Ilgner will be appointed Senior Group Director and is designated to join the Management Board when the regulatory requirements are met. He succeeds Pippa Lambert, who recently announced her intention to leave for personal reasons. Lambert will leave the bank at the end of April 2020 after a combined 16 years of service.

With the creation of the new Transformation and Human Resources function, Deutsche Bank aims to drive forward its most comprehensive transformation for 20 years with a sharpened focus. The primary objective is to manage this restructuring holistically with clear accountability and to improve cooperation and process coordination within the Group.

“Given the size of the task there needs to be one Management Board member devoting all his energies to this comprehensive transformation and driving the reorganisation across all areas of our bank,” said Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank. “Fabrizio Campelli can point to an impressive record of success in a variety of leadership roles at Deutsche Bank and he possesses all the qualities to liaise closely with his fellow Management Board members to ensure the success of this transformation.”

Campelli will partner closely with Ilgner and also be responsible for shaping the change that will impact the bank’s current workforce of almost 90,000. The goal is to develop employees for the digital age while also reducing costs. In July, Deutsche Bank announced its plans to reduce headcount by 18,000 by the end of 2022. At the same time, one of the bank’s strategic priorities is to change the way it works, for example, being more entrepreneurial and making better use of new technologies.

“I am delighted that in Michael Ilgner we have attracted a leader with a wealth of experience in developing talent and configuring change processes,” said Christian Sewing. “At Deutsche Sporthilfe he has been committed to representing the individual interests of elite athletes for more than decade, making key improvements to talent development and thereby providing thousands of athletes with the prospect of a professional career after their sporting careers are over. His passion and his fresh approach will help us to continue the excellent work of our Human Resources function under Pippa Lambert’s leadership and develop new ideas.”

With the announcement of the newly created role of Chief Transformation and Human Resources Officer, Paul Achleitner expressed his thanks to President Karl von Rohr for his sponsorship of Human Resources. “As Chief Administrative Officer, Karl von Rohr set standards together with Pippa Lambert for many years. Fabrizio Campelli and Michael Ilgner can now build on this,” Achleitner said. “Karl will now be able to fully focus on his responsibilities as President, CEO for the Germany region and Management Board member responsible for our Private Banking and Asset Management activities.”