Deutsche Bank unveils new chief economist

Deutsche Bank has announced the arrival of a new man into one of its key banking jobs.

Dr Thomas Mayer will be taking on the role of chief economist at the bank from the start of next year when its current occupant, Dr Norbert Walter, retires.

The new banking job represents a promotion from 55-year-old Dr Mayer, who is currently employed at Deutsche Bank as its chief European economist in its global markets division.

Dr Walter is retiring after a 22-year tenure at the financial institution, during which he helped expand the firm's economics division into Deutsche Bank Research.

Speaking after the appointment was announced, Dr Josef Ackermann, chairman of the company's management board, thanked Dr Walter for his work and congratulated Dr Mayer on his promotion.

"We are sure that he will master the challenges with his soundly-based knowledge and capabilities and lead Deutsche Bank Research successfully into the future," he said.

Last month, the financial institution announced net income for the third quarter of 2009 of £1.27 billion, up from £376 million during the same period in 2008.

Updated: 01 December 2009.
Categories: banking-and-financial-services, finance-and-accounting, market-and-industry-news.