Finance

Former Deutsche Bank chief operating officer, Kim Hammonds, dies

Kim Hammonds, who spent five years at Deutsche Bank including a stint as its chief operating officer, has died.

Hammonds, who has held various executive board roles since her departure from the German lender in 2018, has passed away, the bank confirmed in a statement.

Hammonds founded the charity the Zoe Foundation in 2003, having been diagnosed with stage two breast cancer at the age of 35. It provides art therapy to those undergoing treatment for the illness and is named after her daughter, Zoe.

While a cause of death was not specified, Hammonds wrote on the website of the Zoe Foundation that she was diagnosed with metastatic breast cancer for a second time in 2019.

READ Deutsche Bank operating chief quits just days after promotion of CEO

In a statement, Deutsche Bank said that Hammonds had made a “lasting contribution — with her fresh perspective and courage to make profound changes”. She was hired by the German lender in 2013 to overhaul its sprawling technology platforms which had long been a headache for the bank.

She was promoted to chief operating officer at Deutsche Bank in August 2016, sitting on the management board of the German lender ahead of a radical overhaul of its business. An ally of former chief executive, John Cryan, she departed from the bank in April 2018, shortly after its current CEO Christian Sewing took the reins.

At the time of her departure, former Deutsche chairman Paul Achleitner described her as a “breath of fresh air” who had started the process of modernising its technology infrastructure.

Since her departure, she has sat on the boards of various technology companies including Zoom and cloud computing company, Box.

Before joining Deutsche Bank in 2003, she worked as chief information officer at aerospace firm Boeing and a stint at Dell Corporation.

Deutsche Bank said in a statement that it would make a contribution to the Zoe Foundation.

To contact the author of this story with feedback or news, email Paul Clarke

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