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26th July 2011

New CEOs and Chairman at Deutsche Bank

Juergen Fitschen and Anshu Jain are to be nominated by the supervisory board as co-Chairman of the management board of Deutsche Bank, effectively co-CEOs. The nominations to be voted on at the AGM will involve their taking up the positions immediately following the AGM, immediately following the retirement of Josef Ackermann as chairman of the managing board. Supervisory board chairman, Clemens Boersig is also to retire at the same time. He will continue to serve on the supervisory board. Akermann has volunteered himself for the role of chairman of the supervisory board:
"I fully endorse the decisions taken by the supervisory board today. I am willing to join the Supervisory Board next year and take on its chairmanship in order to continue serving the Bank in this new capacity".


The moves have been widely rumoured for some weeks, or some might say deniably disseminated. Jain who heads up the investment banking is viewed as highly successful and dynamic. Fitschen`is currently Head of Regional Management worldwide, and is said to be appointed as the best amongst the native German speaking management. The two prospective CEOs have had their management contracts extended until 2017. Rainer Neske, Head of Private & Business Clients, and also considered for the CEO position has also had his contract extended until the same date.