My Orchids. Oncidium "Rotating Doors". Photo ET

A Press release by Deutsche Bank. The fact that a member of Parliament, former Minister of Finance, Governor of the World Bank drops his political tools to join a bank is subject of some controversy in his native Luxembourg. We'll assemble what generally the problem is with this type of Revolving Doors practice.

Luc Frieden to join Deutsche Bank as Vice Chairman

Deutsche Bank announced today that Luc Frieden (50) will join as Vice Chairman effective 15 September 2014. In his new role, Frieden will advise the Management Board and senior management on strategic aspects related to international and European affairs. Frieden will also work with the Bank’s Government & Regulatory Affairs department and other infrastructure functions and business units.

Frieden will be based in London and report to Stephan Leithner, Member of the Management Board, whose functional responsibilities include Europe and Government & Regulatory Affairs.

Leithner said: “We are pleased that Luc Frieden will join Deutsche Bank as Vice Chairman. He brings a wealth of experience in governmental affairs and international finance. His expertise and advice will be of great benefit for the Bank and its clients.”

From 1998 to 2013, Frieden served as a member of the Luxembourg government, including as Minister of Justice, Minister of Treasury and Minister of Finance. In 2005, Frieden chaired the European Council of Ministers of Justice and Home Affairs. For the last five years, he represented Luxembourg at the European Council of Ministers of Finance (ECOFIN and Eurogroup) and participated in the stabilization of the Eurozone and the shaping of the European banking union. He worked with leaders of international organizations and banks. A long time Governor of the World Bank, Frieden served as Chairman of the Board of Governors of the IMF and the World Bank Group in 2013. 

Frieden graduated in law from the University of Paris (Panthéon-Sorbonne), the University of Cambridge and Harvard Law School.  


For further information, please call: 

Deutsche Bank AG    
Press Relations    

Regina Schüller    
Phone: +49 69 910 44032   
E-Mail: regina.schueller@db.com  

Armin Niedermeier
Phone: +49 69 910 33402
E-mail: armin.niedermeier@db.com