Deutsche Bank silent on who will be its next boss

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The biggest German bank, Deutsche Bank, declined to give details Thursday on who would succeed chairman Josef Ackermann despite calls from shareholders gathered here for a general assembly.

"We are preparing ourselves methodically for the succession of the chairman. Mr. Ackermann is fully involved in this process ... and a decision will be taken in due time," supervisory board president Clems Boersig told the meeting.

The front runners are tipped as Anshu Jain, head of the core investment bank division and Hugo Baenziger, who runs the risk management unit.

Former German central bank chief Axel Weber is cited as another possibility.

"The three of them together would make an ideal successor," commented Klaus Nieding, head of the shareholders defence group DSW.

Persistent rumours in the German press say that Ackermann, a 63-year-old Swiss national, will not serve to the end of his mandate in 2013 and might step down as early as next year.

© 2011 AFP

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