1-15 What solution for Deutsche Bank was proposed? How effective do you think it will be? Explain The solution for the Deutsche Bank was to appoint a new CEO, John Cryan. He thought that Deutsche Bank had too many tasks that were being handled manually, therefore, he laid off thousands of employees to cut the cost of labour. He then appointed Kim Hammonds, a technology specialist, to the chief operating officer to handle the reengineering of the bank’s systems. This was a smart choice because Hammonds use to work as the chief information officer at Boeing where he studied failed aircraft and learned from their mistakes. Hammond is used to seeing failure and understanding how to make things better. Hammond also decided to do business with high-risk clients which improved their control framework an automating manual reconciliations. Another smart move that Hammond did was that he reduced the amount of individual operating systems wand replaced outdated computers and software applications. Although Hammond attempted to fix Deutsche Bank’s crisis, they replaced him with Christian Sewing as they did not see any significant improvements within the company.
- Fall '12