Former Temasek Executive Cryan Revamps Deutsche Bank
Deutsche Bank’s new co-CEO John Cryan, a former Temasek and UBS executive, enacted sweeping changes at the German financial juggernaut. Taking over the reins in July, Cryan is determined to work more with regulators such as Bafin, lower costs and create a more simplified structure at the bank. Deutsche Bank has been ensnared in allegations that they were assisting in rigging benchmark interest rates, paying mega fines to regulators. With regard to lower costs, up to 8,000 jobs are rumored to be on the chopping block. Many of former co-CEO Anshu Jain’s lieutenants are being axed, a typical move of a regime change at a financial institution.
Asset Management and Investment Banking Changes
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