ANSHU JAIN spent 17 successful years at Deutsche Bank before he realised his ambition to take the helm of Germany’s biggest bank. The experience has been sobering. When his time came to ascend to the throne, in 2012, he found he had to squeeze in alongside Jürgen Fitschen as co-chief executive. Now, after three underwhelming years, his reign is over.
On June 7th, Deutsche announced that Mr Jain will leave his job at the end of this month. He will be replaced as co-chief executive by John Cryan, currently a member of Deutsche’s supervisory board and formerly the finance chief at UBS, a Swiss rival. Mr Fitschen is also leaving his position early—he will step down in May 2016, leaving Mr Cryan in sole charge of the bank. But Mr Jain is much the bigger casualty: three years ago many assumed Mr Fitschen was chaperoning the younger man, a non-German speaker who had built up Deutsche’s investment bank in...Continue reading
Source :Business and finance http://ift.tt/1KiKhDW
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