On October 25, 2018 The Supervisory Board of Deutsche Bank announced changes to the management of the bank. Frank Kuhnke, the current Chief Operating Officer, will be appointed a member of the Management Board with effect from January 1, 2019. Kuhnke has been a Senior Group Director since April of 2018. His responsibilities, which include Information Security, Data Management and Digital Strategy, will remain unchanged. Nicolas Moreau, responsible for Asset Management, will leave Deutsche Bank at the end of 2018. His role at the group level will be assumed by Asoka W hrmann, who will be permanently appointed a Senior Group Director with immediate effect. In this role he will report directly to Chief Executive Officer Christian Sewing. W hrmann will replace Moreau as Chief Executive Officer of DWS Group with immediate effect. W hrmann was most recently Head of Deutsche Bank's Private Clients business in Germany. He spent many years in a variety of global leadership roles at Deutsche Bank's asset manager. Until 2015, he was responsible for the entire fund management business as global Chief Investment Officer.