German Chancellor Friedrich Merz has named a new chief of Deutsche Bahn and tapped a former banker as investment tsar in a bid to revive Europe’s largest economy after years of under-investment and stagnation.

Evelyn Palla will become the first woman to lead Deutsche Bahn, the country’s state rail company, the government said on Monday. Palla, an Italian national and former head of DB’s regional transport unit, will replace Richard Lutz, who has held the job since 2017 and whose term was expiring in 2027.

Merz also appointed Martin Blessing, the former chief of Commerzbank, as Germany’s first investment commissioner — an unpaid role reporting directly to the chancellor. Blessing will be tasked with promoting the country as an investment destination to international investors.