Deutsche Bank has named Fabrizio Campelli to lead its investment bank — part of a raft of board changes — as the German lender's chief executive, Christian Sewing, steps back from managing the unit.

Campelli, who has most recently served as its chief transformation officer, will take responsibility for Deutsche's corporate and investment bank, it said in a statement. The move is part of a series of changes at the bank, which include handing Sewing a renewed contract to keep him at the helm until 2026, in what it described as a "clear signal of continuity".