Germany’s Ackermann May Manage Russian Funds, Vedomosti Says

Russian authorities proposed that Josef Ackermann, former Deutsche Bank AG chief executive officer, join the country’s new financial agency that would manage sovereign wealth funds, Vedomosti said, citing several unidentified Russian bankers.

Ackermann, who stepped down from his post in Deutsche Bank in May, may join the agency’s board of directors or even head it, the newspaper said. The agency, known as Rosfinagentstvo, may be created in 2013 and is expected to manage the Reserve Fund, the National Wellbeing Fund and part of state debts that include OFZ bonds and Eurobonds, Vedomosti said.