Deutsche Bank has appointed Kim Hammonds to its management board and promoted her to chief operating officer.
Hammonds, previously the global chief information officer and co-head of group technology and operations at the $1.7 trillion-asset Deutsche, was promoted to oversee its information technology systems and operations overhaul.
Before arriving at Deutsche, Hammonds was chief information officer at airline manufacturer Boeing for five years. She has also held IT executive positions at Ford Motor and Dell.
She succeeds Henry Ritchotte, who is leaving his COO and management board positions to launch a digital bank for the financial institution, details of which have not been disclosed.
As part of Deutsche Bank's restructuring of senior management, each of the bank's four core business units will be represented on its ten-person management board. They will be supplemented by four senior group directors.
Hammonds has been named a senior group director and will assume her management board responsibility within the next year.
Deutsche Bank recently announced plans to appoint “at least one woman” to its management board by mid-2017. Hammonds and Sylvie Matherat, who was also named to the management board, will be the first women on Deutsche's board since the 1996 death of Ellen Ruth Schneider-Lenne. Matherat, who is currently head of government and regulatory affairs, will be promoted to chief regulatory officer.