Deutsche Bank retail banking chief Rainer Neske is set to leave the firm following the German lender’s decision to split up and offload majority of his domain, including Postbank.

The move, first reported by German newspaper Habdelsblatt, comes ahead of Deutsche Bank’s annual shareholder meeting on 21 May 2015.

The departure of Neske, who has spent 25 years at bank, will be discussed at the lender’s supervisory board meeting on 20 May, the publication reported citing undisclosed sources.

The chief operating officer for the group’s retail operations, Christian Ricken, is expected to replace Neske, according to Spiegel Online.

Frankfurt-based Deutsche Bank refused to comment on the news.