Jain heir

1 May 2009 By Jeffrey Goldfarb Follow @jgfarb

A lot can happen before Ackermann s new extension ends in 2013. But as it stands, Deutsche will want an insider with investment banking knowhow. Division cohead Anshu Jain looked to have an edge on counterpart Michael Cohrs before the crisis hit. It may be his job to lose.

This content is for Subscribers only

Context News

Deutsche Bank on April 27 extended the term of chief executive Josef Ackermann until 2013 after the board could not decide on a successor. Ackermann had been saying until recently he intended to leave when his contract expired next year.

During the discussions to find a replacement, chairman Clemens Börsig was put forward as a candidate, a controversial move that prompted the board to issue a statement that it remained confident in him.

The board could not reach consensus on giving the CEO job to Hugo Bänziger, the chief risk officer, Anshu Jain, cohead of the investment bank, or Rainer Neske, the consumer banking chief, according to Bloomberg.

Email a friend

Please complete the form below.

Required fields *