FRANKFURT (dpa-AFX) - Former Postbank CEO Frank Strauß is dead. Strauß died "suddenly and unexpectedly" last week at the age of 54, Deutsche Bank announced on Sunday. The manager was CEO of Postbank for six years and, following the integration of the Bonn-based institution into Deutsche Bank's private customer business, a member of the Management Board of Germany's largest financial institution for two years.

Frank Strauß spent a large part of his professional life in the Deutsche Bank Group. After training as a banker in Iserlohn, he moved to Frankfurt in 1995, where he held various management positions at Deutsche Bank and its then subsidiary Deutsche Bank 24. In 2006, he took over the management of the Private and Business Clients division in the German home market.

In 2011, Strauß moved to Postbank as Chief Sales Officer and took over as Chairman of the Management Board a year later. From 2017 to 2019, he was a member of the Group Management Board of Deutsche Bank and headed the Private and Corporate Clients Bank, initially together with Christian Sewing and, following his appointment as CEO, alone from April 2018.

"Like many colleagues at Deutsche Bank, I am shocked and deeply saddened by the untimely death of Frank Strauss," Sewing was quoted as saying in the bank's press release. "In almost 30 years at Deutsche Bank and Postbank, he made a great contribution, particularly to our private customer business."/ben/DP/he