Holmes Report 16 Feb 2012 // 12:00AM GMT
FRANKFURT--Deutsche Bank has named former Bertelsmann executive Thorsten Strauss as its new global comms and CSR chief.
Strauss succeeds Stefan Baron, who will end his five-year tenure at the German banking giant by retiring at the end of May. Strauss joins Deutsche Bank next month.
A former journalist, Strauss joined Bertelsmann in 2008 as its corporate comms EVP, after nine years at Arvato AG.
He arrives at Deutsche Bank amid news that Europe's largest bank shunned ECB loans for fear of damaging its reputation with customers. The bank's close links to politicians and and policy makers, and its contribution to the global financial crisis, have also been scrutinised.
CEO Josef Ackermann, considered one of the world's most powerful bankers, is due to retire at the May. He will be succeeded by investment head Anshu Jain and regional management chief Jurgen Fitschen, who are to share chief executive duties.
In addition to Strauss' appointment, Deutsche Bank has promoted deputy press head Michael Golden, to serve as deputy global head of communications and CSR.