Deutsche Bank’s reshuffle leaves analysts questioning its future direction

Finance


The pressure could also be on Paul Achleitner, the chairman of the bank’s supervisory board. Hans-Christoph Hirt, the head of Hermes Equity Ownership Services at Hermes Investment Management, told CNBC’s Squawk Box, that Achleitner has a number of questions to answer. Hermes Equity Ownership Services is a shareholder of Deutsche Bank’s.

“We don’t say he has to go, but he has some very serious questions to answer ahead of the AGM (annual general meeting) and at the AGM on the 24th of May,” he said.

“There are a number of questions,” he said, “First of all John Cryan was his man, he handpicked him in 2015,” Hirt said, in reference to the outgoing CEO. He added that Cryan was the third chief executive in less than six years under Achleitner’s supervision as chair.

“We want to hear now about what’s the plan, what the new management plan(s) to do, other changes to the strategy, what will happen to investment banking,” Hirt said.



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