Deutsche Bank on Wednesday posted a surprise net loss in its third quarter earnings,as heavy legal costs outweighed a rise in investment banking.
Germany's top lender said it lost 92 million euros ($117 million) in the July-September quarter from the year-ago period, on net revenues of 7.9 billion euros.
The bank spent 894 million euros on litigation costs in the quarter, bringing to around 7 billion euros the amount the bank has spent on fines and settlements since 2012.
The bank late Tuesday said it will reshuffle top management by naming Marcus Schenck, former finance chief at energy group E.ON and Goldman Sachs banker, as chief financial officer and putting current CFO Stefan Krause in charge of operations and strategy.
Henry Ritchotte, age 51, will continue as chief operating officer with responsibility for technology and operations, and will in addition assume responsibility for the bank's global digital agenda.
Krause will take on strategy alongside his CFO duties on November 1 and Schenck will assume the CFO title on May 21, 2015.
- Reuters contributed to this report.