Deutsche Bank’s Loetscher Steps Aside Pending Wirecard Probe (1)

Deutsche Bank AG said Andreas Loetscher will temporarily step aside as chief accounting officer to focus on the investigations and inquiries surrounding the collapse of Wirecard AG.

Tax head Brigitte Bomm will assume the role of interim chief accounting officer with immediate effect, in addition to her existing responsibilities, according to an internal memo obtained by Bloomberg. Deutsche Bank expects this change would be “of a temporary nature,” Chief Financial Officer James von Moltke wrote in the memo that was distributed to employees.

Loetscher, a two-decade veteran at accounting firm Ernst & Young, oversaw the Wirecard audits for the ...