Bloomberg News

German Fund Seeks Wider Deutsche Bank Chairman Powers, Euro Says

May 05, 2012

Union Investment, the asset manager that controls about 1 percent of Deutsche Bank AG’s share capital, wants wider powers to be granted to the bank’s chairman to improve corporate governance at Germany’s biggest lender, Euro am Sonntag said, citing fund manager Ingo Speich.

More influence from designated Chairman Paul Achleitner, who will succeed Clemens Boersig after the annual shareholder meeting this month, would prevent potential friction as Deutsche Bank introduces a dual management structure that will see investment banker Anshu Jain and Germany head Juergen Fitschen become co-chief executive officers, the newspaper said.

To contact the reporter on this story: Angela Cullen in Frankfurt at acullen8@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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