THE supervisory board of Deutsche Bank announced April 30 the appointment of Alexander von zur Mühlen to the management board of Deutsche Bank AG effective August 1 2020.

He will take charge of the bank’s Asia-Pacific business when Werner Steinmüller retires from the management board on July 31. Steinmüller will continue to serve the bank in an advisory role until year-end.

Mühlen joined Deutsche Bank in 1998 after studying business management. Following a variety of roles in investment banking, lastly as co-head of debt capital markets in Europe, he was appointed group treasurer in 2009. In this function he managed the bank’s capital, liquidity and funding.

In 2017 he was appointed co-head of global capital markets and one year later named global head of group strategy, in summer 2018. In this function he played a key role in exploring a potential merger with Commerzbank at the start of 2019 as well as in preparing the strategy that was announced in summer 2019.

“In Alexander von zur Mühlen we have found an excellent inhouse successor to Werner Steinmüller. As a recognized strategist and internationally experienced capital markets expert, he possesses all the skills and attributes needed to develop our Asia-Pacific business and further advance our regional strategy,” says supervisory board chairman Paul Achleitner.