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- The share price of Deutsche Bank rises in the meantime by eight percent, after it was revealed that the co-chiefs Jain and Fitschen go.
- Analysts are pinning their hopes for the sequel to John Cryan, others warn:.. He stood before the same problems as its predecessors call
- Aktionaersschuetzer that the Bank finally clears and stops all scandals
share shoots up
The resignation of the German Bank leadership duo comes to the stock market good. The shares of the largest German money house fired on Monday in the meantime by about eight percent upwards. On Sunday it was announced that Jürgen Fitschen and Anshu Jain throw – She is succeeded by the 54-year-old Briton John Cryan. He already sits on the board of the Bank in 2013.
Many investors are betting that Cryan in lowering costs more successful than its predecessors. “Even at UBS Cryan has a strong focus placed on costs,” said analysts at Morgan Stanley. “We believe that the German bank is at a turning point,” it said at Citi. The new CEO is highly regarded and could manage to better implement the chosen strategy and achieve higher profits.
German bank Tangled in his own entanglements
That’s it: Anshu Jain and Jürgen Fitschen toss back. The crisis falls on the German bank in. Chronology of chaotic change of power.
doubts about long-term success
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But there are also doubts about how sustainable the joy of will be investors. “It’s a new boss, but he stands in front of the old problems,” said an analyst at investment bank Goldman Sachs. Especially in terms of profitability pass it on challenges. Despite the chief change one goes out at Goldman Sachs of maintaining continuity and possibly changes in detail.
A radical change of course is likely of Cryan, the former chief financial officer of the Swiss bank UBS, but not expected. Cryan standing principle behind the motion adopted by Jain and Fitschen change of strategy, said a senior bank insider, but in the elaboration of the details there is scope
Since June 2012 -. The date of entry into office of the duo Jain and Fitschen – has the shares of Deutsche Bank significantly less in value than the Dax gained total. “Sustainable exchange gains depend, however, on whether the investor’s successor John Cryan really seen as a savior, which initiates a change in strategy,” said one investor. Doubt should be allowed.
Your Forum How do you rate the resignation of Fitschen and Jain?
After months of criticism enter the two CEOs of Deutsche Bank, Jürgen Fitschen and Anshu Jain, back. An overdue step?
Aktionaersschuetzer demanding the end of the scandals
Investors hope that the scandals the bank now come to an end. The Briton John Cryan had to make the theme cultural change right times, demanded the Vice President of the German protection combination for security possession (DSW), Klaus Nieding. There just is not sufficient if the bosses announce a cultural change, but this then not arriving in investment banking.
That Fitschen and Jain go, was only logical, because in particular the confidence of institutional investors is no longer there , Nieding said. However, the Board did have acted sooner. The loss of confidence among major shareholders had been identified for the control committee for months. The fact that only the end of April adopted strategy will actually be implemented by 2020 as well, Nieding not believe, “I can not imagine that someone who wants to be a really strong man at the head of Deutsche Bank, not sets its own accents and this strategy does not again readjusted “
John Cryan In this man the German bank
sets Following the withdrawal of Anshu Jain and Jürgen Fitschen is John Cryan new head of Deutsche Bank. It has already led to another major bank by the crisis.
The withdrawal of Jain and Fitschen
Cryan is from 1 July 2015 CEO , Jürgen Fitschen remains until the AGM in May 2016 co-head, then Cryan to be sole CEO of the Bank. The personnel decisions of the Supervisory Board met on Sunday after persistent criticism of Jain and Fitschen.
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