FRANKFURT, June 8 (Reuters) – Starting sitting soaring for Deutsche Bank in the aftermath of the last change of leadership that saw the appointment as CEO of the UK John Cryan Anshu Jain instead of just two weeks after the decision to assign it greater powers to reorganize the bank.
The biggest German bank had in fact presented a radical reorganization of the first lines of the management on May 21 in an attempt to raise the credibility of the institution, put into crisis by a series of judicial investigations that have seen accused of alleged manipulation interest rate reference, improper sale of derivatives, tax evasion and money laundering. But some investors have demanded further changes.
Cryan, 54, sits on the supervisory board of Deutsche Bank from 2013; replaces the co-CEO Jain and become CEO only when the other co-CEO, Juergen Fitschen, will retire next year.
The new CEO, who will assume full duties on July 1, was one of the directors of the new strategy of the bank and, according to a banking source, should hardly making any changes.
“The strategy will not be reformulated but there is obviously room for shaping the details,” the source said.
In the early stages at the Frankfurt Stock Exchange Deutsche Bank rises by 7.3% to EUR 29.64.
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