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Deutsche Bank's Co-CEOs Resign

Deutsche_Bank

The co-CEOs of Deutsche Bank yesterday resigned following weeks of pressure due to financial missteps and regulatory penalties aimed at the bank. Anshu Jain and Juergen Fitschen will be stepping down and will be replaced by former UBS CFO John Cryan. According to the Wall Street Journal, Jain’s departure is scheduled for the end of the month while Fitschen is expected to leave after the bank’s annual shareholder meeting next May. Shareholders have been seeking changes, with only 61% approving of the bank’s strategic plan at last month’s annual meeting. [WSJ]