Salem Radio Network News Tuesday, December 7, 2021


Deutsche Bank board to discuss chair succession at weekend – source

FRANKFURT (Reuters) -Deutsche Bank’s supervisory board is meeting over the weekend to discuss a successor to chairman Paul Achleitner, a person with knowledge of the matter said on Friday.

Achleitner, one of Germany’s most prominent bankers, plans to step down next May after 10 difficult years in office that saw two changes of CEO, billions of euros of losses and huge fines.

The European Central Bank has been pressuring Deutsche to name a candidate so that it can have time to vet the individual.

Deutsche has returned to profit but remains under the close watch of regulators who guard the health of the global financial system, of which the bank, as one of the world’s biggest lenders, is a critical part.

A spokesperson for Deutsche Bank declined to comment on the meeting, first reported by Bloomberg.

(Reporting by Tom Sims; Editing by Maria Sheahan and Elaine Hardcastle)


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Steve Breen
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