Deutsche Bank board in weekend meet over chairman successor -source

Deutsche Bank's supervisory board will meet to discuss a successor to its chairman Paul Achleitner over the weekend, a person with knowledge of the matter said on Friday. A spokesperson for Weimer said his contract runs to 2024. Bloomberg News first reported the Deutsche Bank board meeting.

Deutsche Bank's supervisory board will meet to discuss a successor to its chairman Paul Achleitner over the weekend, a person with knowledge of the matter said on Friday. Achleitner, one of Germany's most prominent bankers, plans to step down in May after 10 difficult years that saw two CEO changes, billions of euros of losses and huge fines.

The European Central Bank has been pressuring https://www.reuters.com/article/deutsche-bank-leadership-idCNL2N2NT0TX Deutsche Bank to name a candidate so that it can have time to vet them. Deutsche Bank has returned to profit, but remains under the close watch of regulators who guard the health of the global financial system, of which the bank, as one of the world's biggest lenders, forms a critical part.

A spokesperson for Deutsche Bank declined to comment. Achleitner has long preferred that a current Deutsche Bank supervisory board member succeeds him, but the chances of an outsider taking on the role have grown.

That is because a leading choice for the job, Theodor Weimer, who sits on the supervisory board, is also chief executive of Deutsche Boerse. Regulators have said privately that they would not allow him to hold both posts at once. A spokesperson for Weimer said his contract runs to 2024.

Bloomberg News first reported the Deutsche Bank board meeting. (Editing by Maria Sheahan, Elaine Hardcastle and Alexander Smith)

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