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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.
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