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.
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 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 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.