Many people were surprised and surprised when Anshu Jain and Jürgen Fitschen, co-CEOs of Deutsche Bank, announced their resignations. However, the multiple explained why the co-CEOs decided to resign. It was reported that there was more than one reason why he resigned.
Why did Anshu Jain leave Deutsche Bank?
- Jain mentioned his inability to communicate fluently in German as a major impediment to engaging with shareholders.
- Per reports, the German regulator, known as BaFin, pressed Anshu Jain and Jürgen Fitschen to resign as co-chief executives of Deutsche Bank due to dissatisfaction with how they handled an investigation into alleged benchmark interest rate manipulation by bank employees.
- During their tenure as CEOs of the German banking giant, Jain and Fitschen have struggled to resolve legal issues, resulting in a steady accumulation of fines and litigation charges.
Other reasons include; Falling behind rivals, Struggling to maintain profit flow, and Low returns on equity.