Reuters had reported in January that Sewing was under pressure from regulators to relinquish day-to-day oversight the division.
The European Central Bank and Germany's finance watchdog BaFin declined to comment.
Campelli has previously been the bank's chief transformation officer.
The investment bank is the German lender's main profit driver, but also represents a concentration of risk for a bank that is deemed "systemically important" in terms of the functioning of the global financial system.
Earlier this month, Campelli said the investment bank was off to a strong start in 2021, with revenue up about 20% so far in the first quarter compared with a year earlier.
Sewing, whose contract was also extended to 2026, will also take charge of human resources at management board level.
Among other changes announced, Rebecca Short will join the management board to oversee transformation and the capital release unit. She will be one of two women on the bank's 10-person board.
Chief Operating Officer Frank Kuhnke will leave the bank and Chief Risk Officer Stuart Lewis will retire next year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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