Deutsche Bank COO Kim Hammonds is set to step down from her role on 24 May 2018 amid a reshuffle of the management line-up.

The German lender said that Hammonds will leave by mutual agreement with the supervisory board.

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Hammonds has been working as the group’s COO and management board member since August 2016. She joined the bank as co-head of technology and operations in 2013.

The bank said that it will appoint Hammonds’ successor after consulting with regulators.

Deutsche Bank chairman of the supervisory board Paul Achleitner said: “Kim Hammonds has been a breath of fresh air, bringing an outsider’s perspective with deep experience in transformational change. She has built the digital, data and security platforms which are strong foundations for our company.”

The announcement of Hammonds’ departure comes days after the appointment of Christian Sewing as the bank’s new CEO, replacing John Cryan.

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Along with Cryan, the bank’s co-head of the investment banking arm Marcus Schenck will also depart.

Commenting on Hammonds, Sewing stated: “She has hired and promoted outstanding people – we can build on them as we continue modernising the bank’s IT and accelerating digitalisation.”