Deutsche Bank has handed its former co-chief executive a new role running the bank's cultural and educational support initiative for young people.

Jürgen Fitschen, who has worked for the bank for 30 years, helped build its Asian business before setting up its global transaction banking business in the 1990s. He went on to run the group's business in Germany before becoming co-chief executive alongside Anshu Jain in June 2012 – a role he held until stepping down at the bank's annual meeting in May last year.