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Clifford Chance partner takes up governance role at Deutsche Bank

Deutsche Bank today (17 April) announced the appointment of Clifford Chance partner Daniela Weber-Rey as chief governance officer and deputy global head compliance in its Frankfurt office.

Weber-Rey, who is a long-serving corporate partner at Clifford Chance, will join Europe’s biggest bank by assets in June, overseeing corporate governance globally and acting as adviser to the management board on the governance structures and processes of the bank.

She will report to Deutsche Bank management board and group executive committee member Stephan Leithner in her governance role and serve as deputy to compliance chief Andrew Procter.

Weber-Rey has been a partner at Clifford Chance and legacy firm Pünder Volhard Weber & Axster for over 20 years. She was also a member of the Magic Circle firm’s partnership council until earlier this year and continues to be a member of the Commission of the German Corporate Governance Code. She regularly advises German and multinational corporates and banks on corporate governance and general boardroom issues.

According to a statement from Deutsche, Weber-Rey’s hire forms an ‘important component’ of the bank’s cultural change initiative in ensuring good decision-making and clear accountabilities across the bank.

Leithner said: ‘We are pleased that Daniela Weber-Rey will be joining Deutsche Bank. Staying at the forefront on governance structures and processes, an area where the bank is traditionally strong, will be critical in the context of significant market and regulatory change.’

Weber-Rey becomes the second partner from a Magic Circle firm in Germany to announce a role in a financial institution this week. Former Freshfields Bruckhaus Deringer senior partner Konstantin Mettenheimer is set to join asset manager Edmond de Rothschild Group this summer as chairman for the Franco-Swiss bank’s businesses in Germany, including its asset management, private banking and advisory services. He will be based in Frankfurt.