Deutsche Bank chairman Paul Achleitner has given strong support to the lender's twin leaders who have been embroiled in a number of scandals, magazine Der Spiegel reported on Sunday.
Anshu Jain won the job of Deutsche Bank co-chief executive officer after leading its investment bank to record profit. Two years later that rainmaker role is coming back to haunt him.
Deutsche Bank is on track to meet its 2015 targets in investment banking, it said on Thursday after restating its 2013 results to include around $487m of settlement costs and around $69m to cover impaired assets.
Deutsche Bank is considering John Cryan, the former finance chief of UBS, as a potential replacement for co-Chief Executive Anshu Jain should he be implicated in an ongoing investigation into currency manipulation, a German magazine reported on Wednesday.
The reputational risks surrounding Deutsche Bank have grown and it still has some way to go to win back public trust and prove it can overhaul its corporate culture, the bank's two chief executives said on Wednesday.
Deutsche Bank has made 2014 into a make-or-break year for co-Chief Executives Anshu Jain and Juergen Fitschen, who have stuck to ambitious targets for the bank that could be threatened by its long list of legal problems.
Another day, another possible scandal
The Chairman’s Committee of the Supervisory Board of Deutsche Bank will propose to the full Supervisory Board at its upcoming ordinary meeting on October 29, 2013 to extend the duration of its Co-Chief Executive Officer team by renewing the contract of Jürgen Fitschen, Co-CEO of Deutsche Bank.
Consolidation in the banking industry is inevitable as the costs of litigation and a raft of new rules change the economics of the financial services industry, he predicts.
Deutsche Bank co-Chief Executive Officer Anshu Jain was forced to halt a speech in Frankfurt Thursday as a group of shareholders vented their anger at the company’s policies.