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Heavyweight Exit

Incoming Deutsche CEO Sewing, who is German, currently co-runs Deutsche's retail and its wealth arm and is also currently Cryan's co-deputy. Investment bankerMarcus Schenck, with whom Sewing shares the deputy job, will leave after its shareholder meeting in May.

The 46-year-old began as an apprentice at Deutsche Bank in 1989 and has been with the bank ever since, save for a two-year stint with a German real estate bank. He has worked in risk, credit and auditing in Frankfurt and London, and was also dispatched by Deutsche to Singapore and Tokyo during his 27-year career with the bank.

Displeasure over HNA

Cryan’s turnaround push, which included taming big pay packages and risk-taking, apparently cost him board backing. He initially ducked meetings with debt-laden Chinese conglomerate HNA Group, the banks largest shareholder, reportedly displeasing Chairman Achleitner.

Along with Sewing's promotion, Deutsche appointed top executives Garth Ritchie and Karl von Rohr as new presidents. Ritchie is an investment banker who will lead that unit alone following Schenk's exit. Von Rohr is a German lawyer and long-standing Deutsche Banker; as the bank's administrative chief, he is a steadying pair of hands in the tumultuous turnaround phase.