Bloomberg News

Deutsche Bank’s Broeksmit May Be Blocked by Bafin, Spiegel Says

March 15, 2012

Deutsche Bank AG (DBK)’s designated co- Chief Executive Officer Anshu Jain may fail in his bid to make William Broeksmit chief risk officer because of concerns at German financial regulator Bafin, Spiegel reported, citing unidentified people in the finance industry.

Bafin hasn’t yet signed off on the candidacy of Broeksmit, who was due to be voted tomorrow by the bank’s supervisory board to succeed Hugo Banziger, the magazine said. The regulator usually checks candidates for “professional qualification” and “reliability,” Spiegel said.

Deutsche Bank is now hurrying to find a replacement candidate in time for the supervisory board session, Spiegel reported. Deutsche Bank and Bafin declined to comment, the magazine said.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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