Deutsche Bank has tapped veteran banker, Alex Wynaendts, as its next chairman of the supervisory board, replacing former Goldman Sachs dealmaker Paul Achleitner after 10 years in the role.

The German lender has nominated Wynaendts to succeed Achleitner as chairman, it said in a statement on 19 November. Wynaendts is due for election at the bank's annual general meeting in May, meaning Achleitner will have served 10 years as chair of Deutsche Bank.