Achleitner Deutsche Bank

Achleitner one of europe s most prominent bankers has faced criticism from some shareholders for the bank.

Achleitner deutsche bank. Deutsche bank ag nominated theodor weimer to its board of directors a move that positions the head of the german stock exchange as a potential successor to chairman paul achleitner. During achleitner s first four year tenure at deutsche bank its stock price more than halved weighed down by a string of legal issues and fines running to billions of euros. The issues raised in the report have already been investigated and led to regulatory resolutions in which the bank s cooperation and remediation was publicly recognized a deutsche bank spokesman said in an email that didn t comment directly on mr achleitner s involvement.

Achleitner will join deutsche bank in may 2012 after an 11 year stint as finance chief of europe s largest insurer allianz and 11 years working as an investment banker at goldman sachs. An internal investigation in 2016 cleared achleitner of wrongdoing in connection with the bank s manipulation of interbank borrowing rates including libor which cost it a record 2 5 billion in fines from u s. Achleitner has presided over a number of management changes at deutsche bank from co ceos anshu jain and jürgen fitschen to john cryan and now christian sewing.

Achleitner has come under criticism from some deutsche bank shareholders for the bank s losses strategy and management upheaval. Dear shareholders whether you are here in person in frankfurt or watching from the comfort of home or on a mobile device i warmly welcome you to our annual general meeting which i now declare open. I won t seek re election.

Frankfurt am main 23 may 2019. Deutsche bank ag supervisory board chairman paul achleitner is searching for his successor after overseeing a tumultuous period marked by multiple restructurings top management changes and a. It works together closely with the management board in a cooperative relationship of trust and for the benefit of the company.

Deutsche bank s chairman paul achleitner said he intends to step down when his term ends in 2022 heralding a new era at germany s largest lender as it struggles to become profitable.