Top bank CEO's struggle when they lack language skills

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Facing thousands of Deutsche Bank investors, many of them mutinous, Anshu Jain knew a lot was riding on his speech at the annual meeting of the bank.

'On this day, every word matters', Jain said in German at the May gathering. For that reason, he said he’d continue in his mother tongue. The Indian-born British national delivered the rest of the 2,000-word address in English.

Bloomberg News reports that less than three weeks later, Jain resigned as co-chief executive officer after losing the confidence of investors.

Brady Dougan, an American who struggled with German during eight years running Credit Suisse, left the bank at the end of June.

While their failure to master German didn’t cost Jain and Dougan their jobs, it drew criticism in their host countries and deprived the CEOs of a valuable tool for connecting with local shareholders, customers and colleagues. 

To access the complete Bloomberg News article hit the link below:

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