According to a report in German magazine Der Spiegel, former Deutsche boss Michael Philipp is teaming up with former Eurythmic Dave Stewart and Body Shop founder Anita Roddick to form Artist Network.
The new company will produce music, films and concerts. Paul Allen, a co-founder of Microsoft is also thought to be involved in the project and musician Jimmy Cliff is believed to have already signed a recording contract with the new company.
Philipp, 48, left Deutsche in March after seven years with the bank.
Ex-Deutsche Boss To Start Music Label
Deutsche Bank's former head of asset management is thought to be spending around $10m to start up an entertainment company.
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