Alexander von zur Mühlen has succeeded Werner Steinmüller as CEO for Asia Pacific Deutsche Bank.
Mühlen has also become a member of the Deutsche Bank management board, effective 1 August 2020.
As part of his new role, he will take charge of the bank’s Asia Pacific business when Werner Steinmüller retires from the management board on 31 July.
Mühlen joined Deutsche Bank in 1998 and has taken up 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.
Deutsche Bank noted that in this position 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.
Paul Achleitner, supervisory board chair, commented: “In Alexander von zur Mühlen we have found an excellent in-house successor to Werner Steinmüller. As a recognised 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. We wish him every success in his new position on the management board.”
Meanwhile, Steinmüller will continue to serve the bank in an advisory role until year-end.
Commenting on Steinmüller’s departure, Achleitner said: “In his nearly 30 years of service at Deutsche Bank Werner Steinmüller has been instrumental in developing significant areas of the Group. Both the transaction bank, which he managed for several years, and most recently the APAC business is crucial to Deutsche Bank’s future.”
“Werner deserves our gratitude for his tireless dedication to Deutsche Bank and its clients. We wish him all the very best for the future,” Achleitner added.
