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Deutsche Bank to keep CEO tandem through 2017

Co-CEOs Anshu Jain and Juergen Fitschen took over last year from Josef Ackermann

Frankfurt: Germany’s biggest bank, Deutsche Bank AG, is set to keep its tandem of chief executives until 2017.

Co-CEOs Anshu Jain and Juergen Fitschen took over last year from Josef Ackermann. They have worked to move the bank past lawsuits and legal issues that in some cases date back years and stressed the need for the bank to change its culture. When they were appointed, the 65-year-old Fitschen was given a contract through 2015 and the 50-year-old Jain a contract expiring in 2017. The bank said Wednesday that leaders of its supervisory board are proposing to keep Fitschen in place until 2017.

It said the co-CEOs requested the renewal. Board chairman Paul Achleitner says it is “the right signal for our company as well as for the finance industry."

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