Board of crisis-hit Deutsche Bank pushes out British CEO John Cryan

Deutsche Bank searching for replacement CEO

Deutsche Bank searching for replacement CEO

Deutsche Bank has been cutting operations globally but during a visit to its Jacksonville in 2016, Cryan promised to continue growing that office.

German media are reporting that Christian Sewing, now a member of Deutsche Bank's management board, may become the new CEO of Germany's biggest lender replacing John Cryan.

He was criticised for being to slow in implementing cost-cutting measures, with losses at the bank widening in the fourth quarter.

The bank has launched a wide-ranging review of the division with a focus on its US operations dubbed Project Colombo, people with knowledge of the matter said previously. Sewing needs to rejuvenate the bank's cost-cutting plan, which means reducing its United States operations "to free up capital, cost and reduce leverage exposure, improving ROE". Sewing said Deutsche Bank will be "thoroughly" analyzing its corporate and investment banking division, to further adapt its revenue, costs, and capital structure. "And at the same time we will look to free up capacity for growth by pulling back from those areas where we are not sufficiently profitable", he said, without providing details.

Deutsche Bank said late on Saturday that the board would discuss the CEO position and make a decision.

Deutsche Bank shares climbed 3.4 percent to 11.74 euros at noon in Frankfurt. During his tenure, he has worked for Deutsche Bank in Frankfurt, Hamburg, London, Singapore, Tokyo, and Toronto.

Fast after heavy-duty breakfast, Cong scores a self
He further said that the Dalits are feeling insecure in BJP's rule but Congress party is with them. Gandhi also accused the government of suppressing and intimidating the media.

The suddenly all-powerful-yet-somehow-still-embattled chairman of Deutsche Bank has dethroned his CEO, installed what appears to be a loyal figurehead and made it clear to everyone (including livid shareholders) that he is the only HBIC at DB.

Achletiner added that Marcus Schnenk, who is now co-deputy chief executive, would also be leaving the firm after this year's AGM, having informed the supervisory board of his decision before Easter. Schenck announced plans to leave Deutsche Bank after Easter during the appointment process, according to the firm.

In the bank's statement, Achleitner praised Sewing as a "strong and disciplined leader" who has had a more than 25-year career at the organization.

Sewing, a German national, replaces John Cryan, a Briton. It is unclear what his next moves will be.

President Donald Trump's "America First" policy means the dollar will have to weaken, according to Deutsche Bank AG.

So, yup, problems are being solved all around and morale remains high over at Deutsche Bank.

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