Deutsche Bank Adds Ex-USB Juerg Zeltner to Supervisory Board

Juerg Zeltner, the former head of the wealth management business of Swiss bank UBS, has been nominated a member of Deutsche Bank's supervisory board.

Pending regulatory approval, Zeltner will replace Richard Meddings, who resigned from his supervisory board mandate after nearly four years with Germany’s flagship bank.

In his new role, Zeltner will represent the interests of Qatar's royal family, which owns 6.1 percent of Deutsche and is among its largest shareholders.

“In Jürg Zeltner we are gaining a Supervisory Board member who is a top-level European banker with proven expertise in both Wealth Management and Private & Commercial Client Business, as well as Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term,” said Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank AG.

Zeltner is currently the CEO of Luxembourg-based KBL, a wealth manager made up of a network of private banks in Europe and is also held as a private investment by Qatar's ruling al-Thani family. The group manages over $80 billion in assets for wealthy individuals and families as well as institutional and professional customers.

Deutsche attracts new execs to extract value

Zeltner joined KBL earlier in May 2019. He retired from UBS in 2018, ending a more than three-decade-long tenure with the Swiss bank, according to his biography on the ‎company’s website. ‎He originally joined Zurich-based UBS as an apprentice in 1984 ‎and served on the bank’s global executive board for nearly nine years.‎

His leadership has turned the wealth-management division into a key ‎revenue driver at UBS, mainly powered by inflows from wealthy Asian ‎clients.‎

Deutsche Bank has been looking for new executives to mollify shareholder frustrated by the slow turnaround of the loss-making lender.

The news also came as Germany’s largest lender is talking with potential buyers for a wide range of its assets amid wider cuts at its US Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term business, including prime brokerage and equity derivatives, part of its most dramatic overhaul in recent history.

Deutsche Bank said earlier in June that is gearing up to cut hundreds of jobs in its equities trading and research, as well as derivatives trading, as part of a cost-cutting drive. The German lender plans to eliminate as many as 18,000 jobs, joining a growing list of global banks that have announced multiple jobs reduction rounds this year.