Jain's Deutsche Bank departure leaves bank in limbo

Deutsche Bank - Foyer Bridge

Anshu Jain spent 20 years building Deutsche Bank into a global investment bank that rivalled Wall Street's giants.

Reuters reports that but once ensconced as co-chief executive in 2012 - a time when regulators and voters raged against the financial industry - he struggled to cut the 'global, universal' bank he helped create down to size or get a grip on a long list of scandals.

Jain's efforts ended on Sunday when he and co-Chief Executive Juergen Fitschen both resigned in a shock decision that left the bank and Europe's only rival to Wall Street banks in a state of crisis.

The bank faces high costs, huge fines, a new investigation into Russian money laundering, and a half-finished strategic overhaul now left in limbo as the two CEOs who designed it take their leave.

To access the complete Reuters article hit the link below:

Jain puts Deutsche Bank on world stage but leaves it in limbo

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