Deutsche Bank Tightens Jain’s Grip as Investors Challenge Revamp
(Bloomberg) -- Deutsche Bank has placed co-chief executive officer Anshu Jain in charge of strategy in efforts to overhaul the firm as three other executives leave the company. Bloomberg’s Hans Nichols reports on “Bloomberg Surveillance.” (Source: Bloomberg)
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No more excuses. That’s the message some Deutsche Bank AG investors sent Anshu Jain after the co-chief executive officer was given primary authority for implementing the bank’s new strategy.
“It’s the last chance for Mr. Jain to prove that his strategy is right,” Ingo Speich, portfolio manager at Union Investment Privatfonds GmbH in Frankfurt, one of the company’s top 20 investors, said in an interview. “He has to deliver, at the latest,” by next year’s shareholder meeting, he said.