Deutsche Bank is expected to name James von Moltke as its new finance chief
Deutsche Bank declined to comment.
Von Moltke joins Deutsche Bank from Citi , where he worked as treasurer after being hired from Morgan Stanley in 2009 to head its corporate mergers group, the person said.
The news was first reported by Bloomberg on Friday.
Last month, Germany's flagship lender promoted Schenck and retail head Christian Sewing to co-deputy chief executives alongside bank chief John Cryan and said it would name a new CFO at a later stage.
This is the latest in a line of prominent hires Deutsche Bank has made after a big shake-up to staffing, first reported by Matt Turner at Business Insider.
At the beginning of March, Deutsche Bank made a big hire in its San Francisco office. Glenn Rewick will join the firm as a managing director in Americas mergers and acquisitions, or M&A. Deutsche Bank also replaced its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick.
In April, Deutsche Bank revealed it has hired around 370 compliance and anti-financial crime staff in the past 12 months, despite reducing overall headcount by more than 3,000 in the same period.
Last month, Deutsche Bank said it is looking at "conducting preparatory steps" for a potential $8.5 billion capital raise.
Deutsche Bank's capital position has long been a topic of discussion on Wall Street, and questions about capital have dominated recent earnings calls. In December, Deutsche Bank said it would pay $7.2 billion to the US Department of Justice, related to its issuance and underwriting of residential mortgage-backed securities (RMBS) and other activities between 2005 and 2007.