World Focus

Deutsche bank nominates new member for Supervisory Board

Jürg Zeltner has been nominated to become a member of Deutsche bank’s supervisory board, replacing Richard Meddings.

Zeltner, who was the former co-CEO of UBS’ wealth management business and Swiss bank, will join the board following the approval of the regulator.

Jürg is currently a member of the Board of Directors and Group CEO of KBL European Private Bankers, and has over 30 years of experience in financial services, having joined UBS in 1987.

Richard Meddings has resigned from his Supervisory board mandate following four years with Deutsche.

Zeltner will be considered a non-independent member of the advisory board due to his co-investment in KBL European Private Bankers, a firm in which Deutsche Bank is also an investor, according to a media release by Deutsche Bank AG.

Paul Achleitner, the Chairman of the Supervisory Board, said in the news release “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.”

Achleiter continued that “his (Jürg) many years of international experience and his undisputed expertise in these key growth areas are a valuable addition to the Supervisory Board.”