Paul Achleitner, the chairman of Deutsche Bank is seeing Juerg Zeltner, the ex-head of the “wealth management business of Swiss bank UBS”, as a candidate for taking the place of C.E.O after John Cryan.
There had been news of the German bank looking for its new C.E.O face, whereby replacing Cryan, in order to placate investors’ frustration stemmed from the “slow turnaround of the loss-making lender”. However, in a “staff memo” Cryan stated about his ‘absolute commitment” towards the lender. However, Achleitner, as per sources was the initiator of C.E.O search, “remained silent”.
While Reuters added:
“Without citing its sources, Spiegel said Achleitner had already held talks with Zeltner, who left UBS in December after more than three decades at the Swiss bank, hoping to prepare a change by the annual shareholders meeting on May 24”.
Deutsche Bank did not give any comments.
Zeltner has the credit of leading an UBS push into Asia pacific to his bag, for the latter had turned out to be “an important growth driver” which contributed almost “a third of third-quarter operating income in the wealth management division”. In fact Reuters also reported that:
“The German magazine cited sector experts as predicting that Thain would support Achleitner’s strategy to continue to lead Deutsche as a global investment bank”.
References:
reuters.com
There had been news of the German bank looking for its new C.E.O face, whereby replacing Cryan, in order to placate investors’ frustration stemmed from the “slow turnaround of the loss-making lender”. However, in a “staff memo” Cryan stated about his ‘absolute commitment” towards the lender. However, Achleitner, as per sources was the initiator of C.E.O search, “remained silent”.
While Reuters added:
“Without citing its sources, Spiegel said Achleitner had already held talks with Zeltner, who left UBS in December after more than three decades at the Swiss bank, hoping to prepare a change by the annual shareholders meeting on May 24”.
Deutsche Bank did not give any comments.
Zeltner has the credit of leading an UBS push into Asia pacific to his bag, for the latter had turned out to be “an important growth driver” which contributed almost “a third of third-quarter operating income in the wealth management division”. In fact Reuters also reported that:
“The German magazine cited sector experts as predicting that Thain would support Achleitner’s strategy to continue to lead Deutsche as a global investment bank”.
References:
reuters.com