Deutsche Bank AG on Monday evening appointed two of its top execs successors to CEO Josef Ackermann, resolving months of indecision over who would take over the top post, the Wall St Journal reports..
Anshu Jain, Deutsche Bank's India-born, London-based head of investment banking, has been appointed as joint chief executive, the first non-German to head the bank, along with Germany head Jürgen Fitschen, 62 years old. Mr. Jain, 48, is expected to run the operational side of the bank and to play the leading role in setting its long-term strategy, while Mr. Fitschen is expected to manage the bank's corporate, public and political relationships in Germany, according to analysts and people familiar with the bank's plans.
And after a decade at the top post, Mr. Ackermann will step down in 2012 and move to the supervisory board, something Deutsche Bank's powerful employees' union has lobbied for to ensure stability….
Find out more at http://online.wsj.com/article/SB10001424053111904772304576468150188469420.html
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