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.
With speculation reviving over who will succeed Josef Ackermann as chief executive officer of Deutsche Bank AG , the company will have to decide how German the leader of Germany’s biggest bank must be.
Twelve days into his job as co- chief executive officer of Deutsche Bank AG, Anshu Jain stood beside Germany’s finance minister and in front of video images of lush forests and rolling rivers as hundreds of businessmen sang the national anthem.
Anshu Jain, who takes over as co- chief executive officer of Deutsche Bank AG at the end of May, took the biggest pay cut on the firm’s management board after a drop in revenue at his corporate- and investment-banking unit.
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.
Deutsche Bank AG said Anshu Jain and Juergen Fitschen will become co-chief executive officers in 2012, ending more than two years of speculation over who would succeed Josef Ackermann at the helm of Germany’s largest bank.