GERMANY/FILE: Deutsche Bank names Anshu Jain and Juergen Fitschen as future co-CEOs and successors to Josef Ackermann
Record ID:
562551
GERMANY/FILE: Deutsche Bank names Anshu Jain and Juergen Fitschen as future co-CEOs and successors to Josef Ackermann
- Title: GERMANY/FILE: Deutsche Bank names Anshu Jain and Juergen Fitschen as future co-CEOs and successors to Josef Ackermann
- Date: 27th July 2011
- Summary: FRANKFURT, GERMANY (RECENT) (REUTERS) FRANKFURT BANKING DISTRICT SKYLINE VARIOUS OF DEUTSCHE BANK HEADQUARTERS
- Embargoed: 11th August 2011 13:00
- Keywords:
- Location: Germany
- Country: Germany
- Topics: Business,Industry
- Reuters ID: LVA5Q3D6SRVEEQGIAKFFHY7YH1G4
- Story Text: Deutsche Bank on Monday (July 25) named Anshu Jain and Juergen Fitschen as future co-chiefs as it seeks to bridge a divide of deep mistrust between Germany and international investment bankers.
From May 2012 Jain, the 48-year-old Indian-born head of Deutsche Bank's investment bank, will share power with Fitschen, the 62-year-old native German responsible for business in Europe's largest economy.
Fears that Deutsche Bank could neglect its German roots and expand risk-taking activities prompted key members of the supervisory board to opt for the dual CEO model, adding Fitschen's contact book in Germany to Jain's ability to deliver profits.
The leadership duo will take over when current CEO Josef Ackermann retires in May 2012, though the Swiss Ackermann will stay at the bank and influence senior board appointments in a new role on the supervisory board, the lender said on Monday. - Copyright Holder: REUTERS
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