By Baron Henri Estramant and Martin Kammandel.
Germany’s largest lender Deutsche Bank, announced on Sunday, 7 April 2015 the appointment of Briton John Cryan as chief executive officer (CEO) to replace its co-chief executives, Anshu Jain and Jürgen Fitschen who have officially resigned.
John Cryan is a former chief financial officer of Swiss bank UBS. Mr Cryan, 54, is a member of Deutsche Bank’s supervisory board since 2013, a post he will now give up. He was president for Europe at Temasek, the sovereign wealth fund of the Republic of Singapore from 2012 to 2014. Mr Cryan was the chief financial officer of UBS from 2008 to 2011. He holds a degree from the University of Cambridge in the UK.
Mr Cryan shall become co-chief executive officer along with Jürgen Fitschen until May 2016, then become sole chief executive to allow for a smooth transition. Jain’s resignation comes into force on 30 June 2015, though he shall remain a consultant from 1 July 2015 to January 2016.
For more information
Deutsche Bank: https://www.db.com/ir/en/content/ir_releases_2015_4985.htm
