Scandal-plagued Deutsche Bank has hired attorney Stefan Simon to join its management board Aug. 1 to take charge of the bank’s legal and regulatory affairs during a time of turmoil and rebuilding.

Simon replaces Sylvie Matherat, the former chief regulatory officer who apparently is being blamed for the Frankfurt, Germany-based bank’s failure to emerge from a history of misconduct, according to various news reports. Publicly the bank praised her work.

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