Juergen Fitschen

Jürgen Fitschen (born 1948 in Harsefeld, Germany) and Anshu Jain both currently members of the Management Board of Deutsche Bank^[1][2] have been nominated by the Supervisory Board of the bank to take over as Co-CEOs of Deutsche Bank effective at the conclusion of the Annual General Meeting 2012 on May 31, 2012^[3][4]

Education

Fitschen went to school at Athenaeum Stade, then he studied Economics and Business Administration at the University of Hamburg and graduated in 1975 with a master’s degree in Business Administration.^[5]

Career

From 1975 to 1987, he worked at Citibank in various positions^[6] in Hamburg and Frankfurt am Main. In 1983 he was appointed member of Citibank’s Executive Committee Germany.

After joining Deutsche Bank in 1987, Fitschen held executive positions in Thailand, Japan and Singapore, before becoming a member of the Global Corporates and Institutions Divisional Board in 1997, based in Frankfurt. A year later he joined the newly designed Global Corporates and Institutions division, based in London. In 2001 he was appointed to Deutsche Bank Group Board of Managing Directors where he was responsible for the Corporate and Investment divisions of the bank.

Juergen Fitschen has been a member of Deutsche Bank’s Group Executive Committee since 2002. In 2005 he was appointed Head of the newly established Regional Management team worldwide and CEO Germany, based in Frankfurt. As CEO Germany he is also Chairman of the Management Committee Germany. In these capacities Fitschen joined the Deutsche Bank Management Board in 2009.

In December 2012, Fitschen was under investigation for alleged sales tax evasion, which occurred in 2009.^[7] After a raid by over 500 police officials and tax inspectors, Fitschen called the minister-president of the German state of Hesse, Volker Bouffier, complaining about the raid, saying that the incident damaged the reputation of the largest German lender.^[8]

Other titles

Mr. Fitschen is also a member of the Board of Directors of Kuehne + Nagel International AG,^[9] a member of the Supervisory Board of METRO AG^[10] and a member of the Supervisory Board of Schott AG.^[11]

References

1. Deutsche Bank corporate website - Management Board
2. Deutsche Bank Annual Report 2010
3. Press Release Deutsche Bank, 25 July 2011
4. New York Times article, 25 July 2011 "Deutsche Bank taps co-CEOs to replace Ackermann"
5. "Juergen Fitschen". Businessweek. Retrieved 12 March 2013.
6. "Jurgen Fitschen". Forbes. Retrieved 30 January 2013.
7. "Head office raided in tax probe: Deutsche Bank CEO under investigation". Spiegel Online. Retrieved 25 February 2013.
8. "Deutsche Bank leadership criticised by German politicians". Indian Express. Retrieved 7 March 2013.
9. Kuehne + Nagel International AG corporate website - Board of Directors
10. METRO AG corporate website - Supervisory Board
11. Schott AG corporate website - Supervisory Board