Deutsche Bank to Name Dutchman as Next Chair in Changing of Guard

The logo of Deutsche Bank on a company's office in London, Britain, on July 8, 2019. Simon Dawson/Reuters

FRANKFURT—Deutsche Bank said on Friday that it would nominate Dutch businessman Alexander Wynaendts as the next chairman of its supervisory board, marking a new era for Germany’s largest lender.

The former chief executive of Aegon will succeed Chairman Paul Achleitner, one of Germany’s most prominent bankers. He plans to step down in May after 10 difficult years that saw two chief executive changes, billions of euros of losses, and huge fines.