Former Merkel deputy nominated to Deutsche Bank supervisory board

epa06098154 German Foreign Minister Sigmar Gabriel delivers a statement to the media on the occasion of the detention of a German human rights activists in Turkey, in Berlin, Germany, 20 July 2017. Gabriel interrupted his summer holidays to discuss the situation after Turkey had detained a group of human rights activists - including a German national - during a police raid on 05 July. EPA/CLEMENS BILAN

Posted By: Fahim Ahmed January 24, 2020

Frankfurt (dpa) – Germany’s former vice chancellor Sigmar Gabriel has been nominated to become a member of Deutsche Bank’s supervisory board, the bank said on Friday.

Gabriel, the former head of the centre-left Social Democratic Party (SPD), is considered a political heavyweight in Germany, having held positions in Chancellor Angela Merkel’s government as foreign and economy minister.

The nomination will be put to a vote at a shareholder meeting on Monday 20, the bank said.

“We are delighted to have Sigmar Gabriel a committed European and transatlanticist on the Deutsche Bank Supervisory Board,” said supervisory board chief Paul Achleitner.

Gabriel would join Deutsche Bank amid a major restructuring, with chief executive Christian Sewing announcing last year that the lender wanted to reduce the number of full-time jobs by about 18,000 to 74,000 worldwide by the end of 2022.

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