Deutsche Bank IT overseer Hammonds departs

Deutsche Bank IT overseer Hammonds departs

The reverberations from the ousting of Deutsche Bank chief John Cryan are sending aftershocks through the lender's top management, with chief operating officer Kim Hammonds the latest to take her leave from the German bank.

Hammonds joined Deutsche Bank in 2013 as co-head technology and operations and was promoted to group chief operating officer and member of the Management Board in August 2016.

Her departure comes days after Christian Sewing took over from Cryan in the midst of a prolonged downturn in the bank's fortunes.

Hammonds was brought in with a brief to bring down operating costs by streamlining the bank's IT architecture, but her position was damaged when, at an internal briefing, she recently referred to Deutsche as "the most dysfunctional company" she'd ever worked for.

Despite the fall out, board chairman Paul Achleitner was unstinting in his praise: “Kim Hammonds has been a breath of fresh air, bringing an outsider’s perspective with deep experience in transformational change. She has built the digital, data and security platforms which are strong foundations for our company.”

Hammond's exit coincides with that of head of investor relations John Andrews and Marcus Schenck, co-head of the investment banking decision.

Speaking of Hammonds' prominent role in the bank's tranformation programme, CEO Sewing says he remains committed to the remodelling of the bank for the digital age “She has hired and promoted outstanding people - we can build on them as we continue modernising the bank’s IT and accelerating digitalisation.”

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