Deutsche Bank CIO Kim Hammonds is the latest to move into a COO role, according to financial news service Bloomberg. Hammonds will move from CIO to chief operating officer in the New Year, the US-based news provider says. A wide range of executive changes have been made at Deutsche Bank in an announcement made yesterday.

Hammonds will be "co-head of group technology and operations. She will become a general manager at the beginning of next year and join the management board in no more than one year after getting the experience in credit assessment required by the German banking act," Bloomberg reports.

Deutsche Bank appointed Kim Hammonds as CIO and global co-head of group technology and operations (GTO) in November 2013. Taking over the CIO role from Anthony McCarthy. Hammonds is based in London and joined the global bank, from aircraft manufacturer Boeing, where she was CIO from January 2011.

As Deutsche Bank CIO, Hammonds reported to the COO, a role she is now taking. As yet there is no news as to whether Deutsche Bank will recruit a new CIO.

In May 2014 Hammonds hired Michael Grimaldi from Goldman Sachs as CIO for its corporate banking and securities and global transaction banking division. In November 2014 Deutsche Bank hired JP Rangaswami as its Chief Data Officer. Rangaswami is a former CTO of BT and chief scientist for cloud CRM tool Salesforce.

With an education in mechanical engineering from Michigan University, Hammond had previous roles at PC specialists Dell and the Ford Motor Company.