Christian Sewing

Christian Sewing
Sewing in 2020
Born (1970-04-24) 24 April 1970
Bünde, Germany
Alma materFrankfurt School of Finance & Management
OccupationsBanker, business executive
TitleCEO of Deutsche Bank
Children4

Christian Sewing (German pronunciation: ['krɪsti̯an 'ze:vɪŋ]; born 24 April 1970 in Bünde) is a German banker who is the chief executive officer (CEO) of Deutsche Bank. He has been a member of the management board since January 2015, and CEO since April 2018.[1]

Sewing was the head of Deutsche Bank's audit division during its $10 billion money-laundering scandal involving its Moscow operations. The auditing division gave its Moscow office a clean bill of health, despite serious irregularities.[2]

Early life

Sewing was born on 24 April 1970.[3] He earned his Abitur in 1989. He completed an apprenticeship programme at Deutsche Bank in Bielefeld,[4] graduating with a banking qualification from the Chamber of Industry and Commerce in 1991. He then studied business administration at the Frankfurt School of Finance & Management, in Frankfurt.

Career

Sewing first worked in the branches of Deutsche Bank as a 19-year-old trainee in Bielefeld[5] and Hamburg, then as a junior corporate client advisor in Toronto, as Chief Credit Officer in Japan, and six years as a risk manager in London. From 2005 until 2007, Sewing was a member of the management board of Deutsche Genossenschafts-Hypothekenbank.

From 2010 to 2012, he was chief credit officer. He has worked in Frankfurt, London, Singapore, Tokyo and Toronto.[6] From 2012 to 2013, he was deputy chief risk officer. Sewing was head of group audit from June 2013 to February 2015, prior to which he held a number of management positions in risk management. From January 2016, Sewing oversaw Deutsche Bank's private and commercial banking division, which includes the lender's network of German retail branches, but has a low profile outside of Germany.[7] He earned 2.9 million euros for 2017.[8]

On 8 April 2018, Sewing became CEO at Deutsche Bank, replacing John Cryan.[9] That year, he led Deutsche Bank to its first profit in four years and launched talks with Commerzbank on a potential merger.[10] After his first year, his 7 million euro compensation made him one of the best paid chief executives in European banking.[8] As of September, Christian will spend 15% of his monthly net salary buying the German lender's shares as part of his efforts to revive the bank's profitability.[11]

Sewing was the head of Deutsche Bank's audit division during Deutsche Bank's $10 billion money-laundering scandal involving its Moscow operations. The auditing division gave its Moscow office a clean bill of health, despite serious irregularities.[2] According to the terms of Deutsche Bank's settlement with the SEC, Sewing must "annually certify that the German lender is adhering to a recent settlement in which U.S. authorities fined the firm for violating swaps reporting rules."[12] This change could hold Sewing criminally liable for future violations by the bank.[12]


In 2022, under the orders of Deutsche Bank's supervisory board, Sewing and 10% of the senior staff took an overall €1 million reduction in pay due to the bank's missing targets. Sewing received a €145,000 cut to his bonus, as the supervisory board, led by Alexander Wynaendts, revealed that the bank met just 64% of its government, social, and governance targets.[13]

Other activities

Government agencies

Corporate boards

Non-profit organizations

Personal life

Sewing is a passionate tennis player.[21] He is married and has four children.[22]

References

  1. ↑ "Christian Sewing to become new CEO of Deutsche Bank". CNBC. 8 April 2018. Archived from the original on 25 January 2021. Retrieved 21 April 2020.
  2. 1 2 "How Deutsche Bank Let Crooked Clients Run Rampant". BuzzFeed News. Archived from the original on 22 September 2020. Retrieved 24 October 2020.
  3. ↑ Scholtes, Brigitte (15 April 2019). "Bankenfusion: Klarheit am 26. April" [Bank merger: Clarity on 26th April]. Rheinische Post (in German).
  4. ↑ Farrell, Sean (8 July 2019). "Deutsche Bank boss Christian Sewing not squeamish about job cuts". The Guardian. ISSN 0261-3077. Archived from the original on 3 March 2021. Retrieved 17 April 2020.
  5. ↑ Schaer, Cathrin (9 April 2018). "Christian Sewing, former Deutsche Bank intern, now runs the show". Handelsblatt. Archived from the original on 11 April 2025.
  6. ↑ Framke, Andreas; Sims, Tom (9 April 2018). "Deutsche Bank picks retail specialist Christian Sewing as CEO". Reuters. Archived from the original on 24 June 2019. Retrieved 17 April 2020.
  7. ↑ Deutsche Bank Appoints Christian Sewing To Succeed John Cryan As CEO Archived 14 June 2018 at the Wayback Machine Nasdaq.com, retrieved 9 April 2018
  8. 1 2 Tom Sims (22 March 2019), Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years Archived 8 November 2020 at the Wayback Machine Reuters.
  9. ↑ Deutsche Bank Replaces CEO John Cryan With Retail-Bank Chief Archived 16 February 2021 at the Wayback Machine wsj.com, retrieved 9 April 2018
  10. ↑ Tom Sims (22 March 2019), Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years Archived 8 November 2020 at the Wayback Machine Reuters.
  11. ↑ "Deutsche CEO to invest 15% of monthly net pay in bank's shares". Reuters. 2 September 2019. Archived from the original on 1 October 2019. Retrieved 2 September 2019.
  12. 1 2 Kelly, Jack. "Deutsche Bank CEO Christian Sewing Could Be Held Criminally Responsible For His Bank's Activities". Forbes. Archived from the original on 8 February 2021. Retrieved 24 October 2020.
  13. ↑ Storbeck, Olaf (17 March 2023). "Deutsche Bank chief's bonus takes hit from missed governance targets". Financial Times. Archived from the original on 18 June 2023. Retrieved 18 June 2023.
  14. ↑ International Advisory Panel Archived 3 March 2021 at the Wayback Machine Monetary Authority of Singapore.
  15. ↑ Presidium Archived 4 June 2023 at the Wayback Machine Federation of German Industries (BDI).
  16. ↑ Board of Directors Archived 23 January 2021 at the Wayback Machine Association of German Banks (BdB).
  17. ↑ Meike Schreiber (19 April 2021), Im Ehrenamt nun auch Lobbyist Archived 30 April 2021 at the Wayback Machine Süddeutsche Zeitung.
  18. ↑ Board Archived 19 January 2021 at the Wayback Machine Institute of International Finance (IIF).
  19. ↑ Board of Trustees Archived 28 December 2019 at the Wayback Machine Working Group of Protestant Businesses (AEU).
  20. ↑ Board Archived 2 March 2021 at the Wayback Machine Stifterverband für die Deutsche Wissenschaft.
  21. ↑ "Christian Sewing, former Deutsche Bank intern, now runs the show". Handelsblatt global. Archived from the original on 24 October 2018. Retrieved 24 October 2018.
  22. ↑ "A New CEO Plans Big Cuts to Mend Deutsche Bank". Bloomberg Businessweek. Archived from the original on 3 August 2019. Retrieved 24 October 2018.
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