Bloomberg News reports that shareholders should also oppose the actions of the supervisory board and not sign off on the bank’s executive remuneration policy, Pensions & Investment Research Consultants said in non-binding recommendations published on Friday. Deutsche Bank, led by Cryan and Juergen Fitschen, is scheduled to hold its annual shareholder meeting in Frankfurt next month.
The bank hasn’t shown “consistent success” in raising its capital ratios and needs to provide transparency on legal risks and how it plans to improve controls, the advisory firm said. There are also “concerns over the capacity of the supervisory board to effectively supervise the management of the company.”
Deutsche Bank swapped out its top management last year as part of Cryan’s wider overhaul to reduce the bank’s dependence on costly debt-trading businesses and fix controls that failed to prevent a raft of legal expenses.
To access the complete Bloomberg News article hit the link below: