John Cryan told to leave Deutsche Bank

Banking Frontiers - - People Track -

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.

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