October 10, 2019 / 10:46 AM / 12 days ago

Regulators reject Qatari-backed Deutsche Bank board member - sources

FRANKFURT, Oct 10 (Reuters) - Deutsche Bank's regulators are blocking a banker backed by its largest shareholder, Qatar's royal family, from a seat on the supervisory board because of a conflict of interest, according to two people with knowledge of the matter.

The rejection is a further hiccup for the German lender, which has reshuffled management, is cutting thousands of jobs and closing down some businesses in an effort to make a profit. (Reporting by Tom Sims, Patricia Uhlig, Frank Siebelt, Hans Siebelt, John O'Donnell, and Angelika Gruber; Editing by Kathrin Jones and Tassilo Hummel)

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