business
Monday 08 June 2015
A sober Briton to implement the announced change of strategy at Deutsche Bank in the act: John Cryan. The manager is considered modest and trusting. Compared with previous Anshu Jain Cryan has at least one advantage: He speaks German .
As a former CFO of Swiss UBS, he is familiar with major banks in the crisis – now John Cryan can deliver his masterpiece at Deutsche Bank. In July, the 54-year-old Briton Anshu Jain will replace at the head of Germany’s biggest money home. As of May 2016, the man will then stand alone at the top of the scandal-plagued Frankfurt Institute with the striking bald patch.
The challenges for him are immense. He will regain the lost confidence among investors and employees in the management of Deutsche Bank, which attach many lawsuits and lead the Institute regain its former strong returns. Many believe him to put the long-promised culture change in motion: “Cyran is humble and trusting,” says an industry insider. “He loves the understated -. As opposed to the ‘Masters of the Universe’ generation, is one of the Jain”
Unlike Jain speaks Cryan German well – he lived for a time in Munich, when he at SG Warburg one of the leading investment bankers for the financial sector was. That might well received by the public and in politics, where you are very happy when you can replace with confidence in their own language with the head of Deutsche Bank.
Change of strategy maintained
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Cryan still lives in London, but in his new role, he will move to Germany, said a person from the environment of the Deutsche Bank. It had always been clear that the Cryan ‘Plan B’ was when Jain go short. Cryan sitting since 2013 Supervisory Board of Deutsche Bank and has been able to get a good picture of the problems of the Institute. He supported the principle of Jain and Fitschen recently launched strategy change, says a senior bank insider. “The strategy is not reworded, but there is obviously room for maneuver in drawing up the details.”
When UBS Cryan has helped once to pull a bank out of the mess. In 2008, the Cambridge graduate was CFO of the Swiss bank – in the midst of the financial crisis. He built the risky credit derivatives from consistent and established new surveillance systems for the balance sheet risks of the Institute. In 2011 he left UBS and hired the sovereign wealth funds Temasek from Singapore, where he was from 2012 to 2014 European head.
So now is “CEO, German Bank” are as next stop in his resume. In business and politics, many hope that the German Cryan bank can steer into calmer waters again. From a high-level representative of the German economy he gets a leap of faith. “This is good news,” he said after Cryans appeal.
Source: n-tv.de
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