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Deutsche Bank to Name John Thain to Supervisory Board

  • Thain one of four nominees to stand for election in May
  • Chairman said to have sounded out Zeltner as CEO replacement
Updated on

John Thain, a former chief executive officer of Merrill Lynch, is expected to join Deutsche Bank AG’s supervisory board in May, according to a person with knowledge of the German lender’s plans.

News of the board’s shakeup follows speculation that Deutsche Bank is seeking to replace Chief Executive Officer John Cryan. The CEO, who has been trying to restructure the company since taking over in mid-2015, sought to quash reports that he may be ousted in a staff memo on Wednesday.