First German private bank, Deutsche Bank announced Sunday, June 7 the resignation of its two copatrons, Anshu Jain Jürgen Fitschen and, shaken by a rain of scandals worldwide and poor results.
Indo Columbia Anshu Jain and Jürgen Fitschen of Germany were at the head of the Frankfurt banking group since May 2012 and their contract ran until the end of March 2017. They had suffered heavy fire of criticism from several shareholders at the last general meeting of the group in May and had received only 60% of support during the vote of confidence.
The two men will be replaced from May 2016 by Briton John Cryan. Former CFO of the Swiss bank UBS from 2008 to 2011 and member of Deutsche Bank’s supervisory board since 2013, will only function of chief executive officer (CEO).
This decision comes Deutsche Bank is struggling with some 6,000 disputes. The group has just received a new fine of $ 2.5 billion (€ 2.25 billion) in a rate manipulation case
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In mid-May, the bank had also confirmed the opening of an internal investigation within its division of investments in Russia, the German press when speaking possible acts of money laundering.
To make matters worse, despite significant efforts to cut costs and diversify, the bank still lagging behind its imperial rivals and has just launched a new strategy, among others passing by a drastic reduction of the wing in retail banking
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