Top Manager Anshu Jain spared Deutsche Bank a million salary. The simple reason: Jain abstained from receiving his current salary. In addition, the ex-chief soon working for half a year in vain for the group.
Former Co-CEO of Deutchen Bank, Anshu Jain, dispensed around ten million euros salary, such as the “Frankfurter Allgemeine Sonntagszeitung”, citing the business community. The reasons: The top managers quit on his own, and his still ongoing contract will not be paid. As of June 30 Jain resigns from his post.
In addition Jain get a cent fee for the six months from 1 July 2015 to 31 January 2016, in which he his successor John Cryan as a consultant stands.
Deeper fall
Jains contract as CEO of Deutsche Bank actually ran until 31 March 2017. The German bank had announced the withdrawal of the leadership of Jain and Jürgen Fitschen a week ago given. Jain already resigned in late June, Fitschen resigns after the Annual General Meeting in May 2016. The occasion was a low relief of the Chairman by the shareholders according to penalties in the billions for the bank and the weak performance of the stock price.
Chain deserved for years as the top investment bankers billions for the German bank. The fact that many of today’s problems of the house have their roots in the many years he led division, the Indian-born manager does not deny. Jain has the Board responsibility for strategy and organizational development.
After a stint at Merrill Lynch came Jain Deutsche Bank in 1995 to London. Together with his mentor Edson Mitchell he made the Institute one of the leading investment banks worldwide. The passionate cricket player hallmark: a loosely shouldered backpack over the suit and a smart smile
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