The co-CEOs of Deutsche Bank, buffeted by high-profile legal troubles, are resigning from their posts atop one of the world’s largest financial companies.
Anshu Jain and Jürgen Fitschen, who have shared the chief executive job for the past three years, are leaving “early” after an “extraordinary” meeting of the bank’s board, Deutsche Bank (DB) announced Sunday.
Jain will step down on June 30, but Fitschen will remain in his role until next May “to ensure a smooth transition,” the bank said. Both had been expected to run the bank until at least 2017.
At the same time, the bank named John Cryan, a member of its board since 2013, to be co-CEO with Fitschen for the time being. Cryan, a longtime banker, will become sole CEO when Fitschen leaves for good.