Key Highlights
- Deutsche Bank has announced the appointment of Michael Heaney as the new chairman of its US arm, effective immediately.
- Heaney, a retired Morgan Stanley executive, brings over three decades of experience to the role.
Michael Heaney previously served as the global co-head of fixed income sales and trading at Morgan Stanley, as well as chairing the US Securities and Exchange Commission’s Fixed Income Market Structure Advisory Committee and serving as a lead independent director at TP ICAP, the world’s largest inter-dealer broker.
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Appointment Seen As Strategic Move By Deutsche Bank
Deutsche Bank CEO Christian Sewing commented on the appointment, “Michael’s extensive experience and expertise in fixed income and risk management will be an enormous benefit as we navigate a volatile economic and financial market environment.” Heaney will be taking over from Ed Kangas, who has served as chairman of Deutsche Bank’s US arm since 2016.
Deutsche Bank has been working to rebuild its reputation and financial performance in recent years following a series of scandals and financial struggles. The bank’s appointment of Heaney is seen as a strategic move, as it looks to tap into his extensive experience and expertise in fixed income and risk management.
The bank has been making several changes to its leadership and management structure in recent months to improve its performance and restore investor confidence. In addition to the appointment of Heaney, the bank has also recently announced the appointment of a new chief financial officer and a new head of its corporate and investment banking division.
The appointment of Heaney is seen as a positive step for Deutsche Bank as it continues to work towards rebuilding its reputation and financial performance. With his extensive experience and expertise in the financial industry, Heaney is well-positioned to help the bank navigate the volatile economic and financial market environment and achieve its long-term business goals.
