In­vestors threaten Deutsche boss with board shake-up

The Sunday Telegraph - Money & Business - - Front page - By Lucy Bur­ton

IN­VESTORS have told Deutsche Bank’s un­der-pres­sure boss John Cryan that an­other set of dis­ap­point­ing re­sults could trig­ger a man­age­ment shake-up.

The per­for­mance of its once glow­ing in­vest­ment bank is set to dic­tate the mood be­tween top share­hold­ers and the bank’s board as it pre­pares to pub­lish an­nual re­sults in the com­ing weeks.

“Cryan’s con­tract runs un­til 2020 which I think is too long for lack­lus­tre re­sults,” said Michael Huenseler, an in­vestor at Asse­nagon As­set Man­age- ment, a share­holder in the lender.

“A ma­jor dis­ap­point­ment [in the in­vest­ment bank] will in­evitably lead to share­hold­ers de­mand­ing a change at the helm.”

Ingo Spe­ich, an in­vestor at top 20 share­holder Union In­vest­ment, said that share­hold­ers were gasp­ing for “some proof ” that Deutsche could turn around its in­vest­ment bank. “If we see very weak num­bers com­pared to the US peers then I guess we have to bring the dis­cus­sion for­ward,” he said. “There’s cur­rently no proof that the strat­egy is work­ing.”

The bank cur­rently ranks fourth for in­vest­ment bank­ing rev­enue in Europe, the Mid­dle East and Africa, ac­cord­ing to Dealogic, with Wall Street banks Gold­man Sachs, JP Mor­gan and Cit­i­group all ahead of it.

If the bank ends the year in this po­si­tion it will be the first time it has slid out of the top three since 2009. Deutsche Bank de­clined to com­ment.

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