drumbeat at Deutsche Bank: Both CEOs come from – Anshu Jain even 30 June. His successor is a Briton, who earned his merits in the Swiss UBS – and most recently worked for the state fund of Singapore
The German Bank get a new boss. The 54-year-old Briton John Cryan will thus be the 21 chief executive of Deutsche Bank. Until 2006, this function “CEO” called. And as Anshu Jain is also Cyran a CEO whose mother tongue is not German.
But Cryan moves for many years in the German-speaking world. His masterpiece made the Briton in the turmoil of the financial crisis after the bankruptcy of US investment bank Lehman Brothers in 2008. At that time controlled Cryan the Swiss bank UBS, along with their’s then chief Oswald Grübel unusually silently through the maelstrom of special write-downs, capital gaps and regulatory requirements.
Already 2007 Cryan had> merits earned in the UBS and the Royal Bank of Scotland . Cryan helped ABN leadership to control the deals so well that at the end jumped out a sales revenue of over 70 billion euros. At that time, a new record -. And a laburnum for UBS, which is likely to have collected as a consultant whopping commission on the deal
As Grübel 2011 announced his resignation, Cryan therefore saw himself as the legitimate successor. Instead transported UBS Sergio Ermotti CEO. Then the Briton Cryan joined in May 2011 “for personal reasons” back.
A man of principle and a cool head
“I do not know anyone who is cool and long incorporated with so much attention to detail in thinking problems, “citing the” Handelsblatt “a top executive of a competing institution, who has worked with Cryan. He hold fast to his principles even under pressure.
Perhaps it is this property which also Paul Achleitner to moved to lift the 54-year old Briton on the executive chair of Deutsche Bank. In his statement on Sunday afternoon the supervision locking head of Deutsche Bank raised in any case show that Cryan “personal and professional” stand for the values ”that are needed to advance the German bank and the 2020 strategy successfully implement. He knows the bank already good, and we are convinced that he is the right person at the right time. “
Even as of July 1 Cryan will inherit the investment banker Anshu Jain as co-head of the bank. In a transitional phase, there will be a dual leadership with Jürgen Fitschen, before also retires in May 2016
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Classic investment banker and not a trader
Cryan was first as Auditors trained with Arthur Andersen before joining the investment bank SG Warburg. 1995 Warburg was acquired by a subsidiary of UBS. So Cryans began career in Switzerland. There Cryan advised banks and insurance companies on acquisitions and capital increases. He is a classic investment banker, with the methods of traders in the trading divisions, which are currently grounds for investigations and fines world, the Briton had never to do anything.
In the 2008 financial crisis Cryan was then CFO of UBS was promoted. From this time his reputation comes as a level-headed crisis manager. But in public he appeared never large in appearance
After retiring at UBS Cryan was Investor:. He presided over the European business of Temasek, the sovereign wealth funds of Singapore, and also worked in the Asian city state.
Achleitner took Cryan personally Deutsche Bank
Since 20134 Cryan also sits on the supervisory board of Deutsche Bank, among others, the Audit Committee and the Risk Committee, the deal last regularly with new public prosecution and litigation had. Most recently, evidence had compressed that Anshu Jain could have been aware of the machinations of his traders in CO2 trading. At the same time, the trial against former managers of the bank belastetet allegations of false testimony the reputation of the institute. Jürgen Fitschen also available in Munich in court.
According to "Handelsblatt" it was chairman of the board personally Achleitner, who brought Cryan in May 2013 in the body. "He has just asked the right questions and also not shied away from being to question Jain critical," the paper quoted an insider.
In today's press release, the Briton is eager for action. And he knows where to get off at the Deutsche Bank, the hour: "The German bank is a special institution. Our future depends on how well we implement our strategy, to convince our customers and reduce complexity "
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