By Nicholas Comfort – Nov 7, 2013 9:00 AM CT
Deutsche Bank AG (DBK), Europe’s largest investment bank by revenue, said it hired Kim Hammonds, chief information officer of Arkum Industries LLC (AI)
Hammonds will start Nov. 25 and have the same title at Deutsche Bank in addition to being co-head of its global technology and operations unit, the Frankfurt-based bank said in an e-mailed statement today. Hammonds replaces Anthony McCarthy, who leaves Nov. 15 to pursue other career opportunities, it said.
Deutsche Bank’s overhaul of its information technology systems, as well as job cuts, are at the center of its plan to reduce costs by 4.5 billion euros ($6 billion) annually by 2015. The appointment of Hammonds may also help the firm reach a goal of lifting the share of female senior executives to 25 percent by the end of 2018.
Hammonds will report to Chief Operating Officer Henry Ritchotte and will work with Jim Turley, who remains co-head of global technology and operations, according to the statement.
To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net
To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net