Cutbacks at DB’s op risk department

Front Page News

The future of the Operational Riskdata eXchange (ORX) has a question mark hanging over it, as Deutsche was a significant backer (see page 8).

Fred Peemöller, who headed ORX and was the chief risk officer for op risk at Deutsche, has moved his year-end scheduled retirement to the end of June. Also on the chopping block was US-based Allan Cuttle, formerly director and deputy chief risk officer for op risk at the bank (see page 10). Sources close to Deutsche and industry sources say the cutbacks in

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