FRANKFURT (Reuters) – Deutsche Bank said on Sunday it had appointed Laura Padovani to its board of directors responsible for compliance and financial crime prevention, adding a woman to the German bank’s male-dominated senior positions.
The promotion of Padovani, who joined Deutsche Bank last year as head of compliance, will make her the second woman on what will become a 10-person board.
Deutsche Bank lags behind many other major European banks in terms of female representation at board level.
Deutsche Bank President Alexander Wenendts said he aims to achieve greater gender balance, and also sought to strengthen internal controls at the bank, which for years has been in the headlines for lapses in issues such as money laundering.
“Now is the right time for her to assume responsibility for key control functions at the board level,” Weinandts said.
She takes over from Board Member Stefan Simon, who will continue his role overseeing the Americas and Legal Department.