CEO urged to get a move on.
The Telegraph reports that Deutsche Bank investors are losing patience over the time it is taking boss John Cryan to turnaround the lender, with one top shareholder warning he will feel the heat if things don’t move forward in the next six months.
John Cryan, who took on the chief executive job in 2015, has been under increasing pressure to restore profits in the German lender’s investment bank following years of legal investigations and fines for misconduct.
However, exasperation is growing after the bank, which slumped to a €1.4bn net loss in 2016 and in March embarked on an €8bn rights issue to bolster its finances, was downgraded by ratings agency Fitch last Thursday.
Investors urged Cryan to get a move on over the weekend, with one of the company’s largest shareholders warning that the management board will come under intense pressure if they don’t see results soon.
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