German bank to expand board

By Jann Bettinga | March 14, 2009, Saturday |

Print Edition

DEUTSCHE Bank AG, Germany's biggest bank, plans to appoint investment banking co-heads Anshu Jain and Michael Cohrs as well as two other senior executives to the management board, two people with knowledge of the matter said.

The bankers are likely to join Rainer Neske, the head of private and business clients, and regional management chief Juergen Fitschen, said the people, who declined to be named because the information is private.

Deutsche Bank is likely to appoint a successor for Chief Executive Josef Ackermann, 61, from the enlarged board, they added, according to Bloomberg News.

Ackermann, who is scheduled to step down at the annual general meeting in May 2010, has helped the bank sidestep the worst of the United States subprime mortgage market crash.

Finance

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German bank to expand board

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