Deutsche Bank is characterised by a change of leadership. According to information from Spiegel and Handelsblatt, supervisory board chairman Paul Achleitner wants to propose to Control Panel in evening previous head of private customer business, Christian Sewing, as successor to former chairman of board John Cryan. Sewing should refore take over leadership of Deutsche Bank at annual general meeting on 24 May. A spokesman for credit institution did not want to comment on reports on demand.
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At end of March, Cryan had faced rumors of his impending detachment, and had assured in a statement to employees, “that I will continue to use all my strength for bank and to continue along with m path that we are facing about three Years. ” The Briton has been leading Deutsche Bank since 2015, but his contract is still running until May 2020.
As Mirror writes, Cryan should have been under pressure in last few weeks. For year 2017, despite renewed loss of year, Deutsche Bank had announced that it would pay 2.3 billion euros as bonuses to its employees. Cryan had also initiated far-reaching restructuring in Deutsche Bank, latest of which was IPO of DWS’s own asset management. He also inherited numerous international litigations that resulted in billions of payments for penalties and compensations. In past three years, bank only wrote losses, and share price lost lasted strongly in value.
Sewing has so far been co-vice and bank’s executive board responsible for private customer business. In recent days, Paul Achleitner is said to have discussed personalities according to Spiegel with important shareholders. The Chairman of supervisory Board had also contacted external candidates, but n opted for an internal solution.
