Missed opportunity

1 October 2010 By Nicholas Paisner

Unlike his boss, the head of Deutsche’s investment bank is not taking up his full entitlement to buy shares in the German lender’s 10.2 bln euro cash call. There are good reasons why Jain may not be stumping up fresh cash. But they won’t help his chances of becoming the next CEO.

This content is for Subscribers only

Context News

Josef Ackermann, chief executive of Deutsche Bank, has bought 6 million euros of new shares in the bank's rights issue, according to regulatory filings. He held 373,726 shares worth 14 million euros as of August 2010.

Anshu Jain, head of Deutsche's investment bank, sold 1.2 million euros worth of subscription rights and bought 1.2 million euros worth of stock.

Hugo Banzinger, chief risk officer, sold 133,834 euros worth of subscription rights and bought 198,000 euros worth of shares.

Stephan Krause, Deutsche's chief financial officer, who joined Deutsche Bank in 2008, does not have any exercisable subscription rights.

Directors have until Oct.5 to subscribe for new shares.

Jain had 420,006 shares in Deutsche Bank worth 16.5 million euros as of August 2010. Hugo Banzinger, the bank's chief risk office, had 49,000 shares, worth 1.9 million euros.

Email a friend

Please complete the form below.

Required fields *