John Cryan told to leave Deutsche Bank
John Cryan, CEO of Deutsche Bank has been asked to quit. He is being replaced by Christian Sewing, currently a deputy CEO in the bank. The bank said Sewing, 47, would succeed Cryan, who has been at the helm since 2015. Cryan will leave the bank at the end of April, the bank said. Although Cryan’s contract was due to run until 2020, there have been speculation that the bank’s supervisory board chairman Paul Achleitner had serious differences of opinion with Cryan over strategic issues. Cryan has been given charge of the bank in 2016 after co-CEO Juergen Fitschen had left the bank. He has been entrusted with the task of restructuring the bank and help it come out of the crisis it was in.