Deutsche Bank Switzerland Adds Peter Hinder as New CEO

Deutsche Bank has named veteran Swiss banker Peter Hinder as its new Chief Executive Officer, according to a Reuters report today. He will take over as head of its operations in Switzerland and its European wealth management business.

Hinder joined Deutsche Bank last year as Managing Director, Chief of Staff for Private, Wealth & Commercial Clients. He was responsible for planning, coordinating and monitoring the business transformation and business strategy.

Hinder commences his new role on 1 December and will replace Marco Bizzozero, who is leaving the bank.

Prior to this, Hinder had a 23-year stint at UBS as Head of UBS Northern Switzerland Region where he was responsible for coordinating all UBS activities in the region and four years as CEO of Thurgauer Kantonalbank .

Deutsche Bank has been active in Switzerland since 1980 and employs approximately 700 employees in the country.

As reported by Finance Magnates earlier this week, the bank secured Paul Achleitner as Chairman of its Supervisory Board for a second term after successfully navigating the lender through several turbulent years which included the bank’s Libor Libor Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Read this Term manipulation charges and thousands of job cuts.