Rainer Neske News
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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.
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Deutsche Bank AG consumer banking chief Rainer Neske said bankers will spend a generation regaining the trust of society as many people believe they operated solely for their own gain.
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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.
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When Juergen Fitschen and Anshu Jain take over as co-chief executive officers of Deutsche Bank AG this week they’ll be reviving a tradition of dual leadership at Europe’s largest bank that ran from the 1960s to the 1980s.
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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.
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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.
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Anshu Jain and Juergen Fitschen, who take over as co-chief executive officers of Deutsche Bank AG at the end of May, reorganized the company’s management as they began to put their mark on Germany’s largest bank.
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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.
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Deutsche Bank AG, Germany’s largest lender, named Susanne Kloess as head of global credit products for its private and business clients division.
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Deutsche Bank AG, Europe’s biggest bank by assets, will cut jobs and review its pay practices to help boost profitability as capital requirements rise and Europe’s debt crisis drags on.
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