Deutsche Bank to create new technology division
Deutsche Bank is forming a new technology division overseeing data, security and innovation, among other functions.
According to a note to employees seen by Reuters, the new division will be headed up by Bernd Leukert, head of technology, data and innovation.
“At its heart, our technology strategy empowers our businesses to control ‘what’ is produced, while technology has control of the ‘how’,” the note reads.
“In the past, the ‘how’ offered too much optionality and did not consistently follow group-wide architecture and tooling.”
The lender created a board-level technology, data and innovation committee in May and plans to plough €13 billion ($14.2 billion) into technology development by 2022.
Systems change wouldn’t happen overnight, the note warned, so investment will continue to be made in legacy platforms while the bank seeks to move to the cloud.