Greenspan said to advise Deutsche Bank

LONDON (CNNMoney.com) -- Deutsche Bank is expected to announce Monday that it has hired former Federal Reserve chief Alan Greenspan as a senior adviser, according to a published report.

The Wall Street Journal said Greenspan will advise the German bank's corporate and investment bank unit.

Peter Hooper, who worked at the Fed under Greenspan and now serves as chief U.S. economist for Deutsche Bank Securities, initiated the arrangement, the newspaper said.

Greenspan spent more than 18 years at the helm of the nation's central bank. His tenure as Fed chairman ended on Jan. 31 last year.