Ackermann Era Ends at Davos as Deutsche Bank CEO Cedes Power

For Josef Ackermann, head of Germany’s biggest bank, the World Economic Forum is a curtain call for the top power broker of an industry under attack.

The 63-year-old Swiss native became Europe’s most prominent banker during a decade as chief executive officer of Deutsche Bank AG, transforming the Frankfurt-based firm into a top-tier investment bank. He also steered the campaign to water down tougher regulation and devised measures aimed at saving the euro as chairman of the International Institute of Finance, the Washington-based trade group.