Deutsche Bank AG will pay about 925 million euros ($1.27 billion) to settle a 12-year-old dispute with the heirs of Leo Kirch over the collapse of his media group, according to two people familiar with the matter.
Deutsche Bank AG, Germany’s biggest bank, is close to settling litigation over the collapse of Leo Kirch’s media group for more than 900 million euros ($1.2 billion), according to a person with knowledge of the talks.
Deutsche Bank AG Chairman Clemens Boersig wants to finish his search for a successor to Chief Executive Officer Josef Ackermann by September, Financial Times Deutschland reported, without saying where it got the information.
Axel Weber’s decision to join Switzerland’s UBS AG robs Deutsche Bank AG of a potential replacement for Chief Executive Officer Josef Ackermann and adds to pressure on Germany’s biggest bank to map out a succession plan, investors said.
Deutsche Bank AG, Germany’s biggest bank, may name investment-banking head Anshu Jain co-chief executive officer alongside a German-speaking board member to succeed Josef Ackermann, people familiar with matter said.
Paul Achleitner stood before about 120 media executives and government officials at Sanssouci Palace -- the former summer residence near Berlin of Prussian King Frederick the Great -- to honor European Central Bank President Mario Draghi for his work to save the euro.
The jury in the trial of former Galleon Group LLC trader Zvi Goffer heard from a disbarred lawyer who told of using prepaid cell phones to pass along merger tips gleaned from his former law firm and taking cash- stuffed envelopes in return.
Josef Ackermann, a beacon of corporate Germany as chief executive officer of Deutsche Bank AG for the last nine years, may become the first top manager to skirt rules the lender espoused to toughen management supervision.
Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen, already facing a tax evasion case, was added to suspects in a probe of former bank executives’ testimony in a lawsuit filed by Leo Kirch’s media group.
Deutsche Bank AG is likely to risk the pitfalls of dual chiefs to keep investment-banking head Anshu Jain while allaying doubts in Germany about his ability to fulfill the political role of leading the nation’s biggest bank.