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Deutsche Bank's chief operating officer leaves amid raft of departures

Deutsche Bank lost another senior executive on Wednesday evening, with chief operating officer Kim Hammonds stepping down from her post, in further proof of growing turmoil at the top of the bank.
The German lender said her tenure is ending "by mutual agreement with the supervisory board". It does, however, follow reports earlier this week that the supervisory board were weighing up whether Ms Hammond had a future at Deutsche Bank.
They were said to be concerned over how long it was taking to upgrade Deutsche Bank's outdated IT system.
Comments Ms Hammonds reportedly made at an internal event, that Deutsche Bank was "the most dysfunctional company" she had ever worked for, were also thought to have caused tensions with shareholders and colleagues.
Ms Hammonds was seen as an ally of John Cryan, who was ousted from his chief executive post just last week. The British boss had come under increasing pressure over the lender's turnaround efforts, and will be replaced by Christian Sewing, the head of Deutsche's retail arm, at the end of this month. 
Deutsche's chairman Paul Achleitner said Ms Hammonds had been a "breath of fresh air, bringing an outsider's perspective with deep experience in transformational change". 
News of her departure comes just hours after the bank said its head of investor relations John Andrews was leaving the bank due to "the leadership changes recently announced".
Deutsche Bank's chief operating officer leaves amid raft of departures

John Cryan was ousted from his post last week

Credit:
Jason Alden/Bloomberg
As well as Mr Cryan, Marcus Schenck, a former deputy co-chief executive and current co-head of the investment bank, is also stepping down from the group. 
It marks a period of major shake-up at the top of the bank, and Mr Achleitner has said that Deutsche is aiming to achieve “a new execution dynamic in the leadership of our bank".
Deutsche's revenue has tumbled over recent years, and the bank posted its third consecutive loss in 2017. It had been planning heavy cost-cutting efforts, but had to abandon its target due to delays with its plans to exit a number of countries. 
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