Deutsche Bank Solves One Crisis With New CEO. Now Onto the Next
- Fate of board chairman Achleitner still up in the air
- Investment bank strategy is most pressing issue for Sewing
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The appointment of Christian Sewing as Deutsche Bank AG’s chief executive officer to replace an embattled John Cryan after less than three years -- and three turnaround plans -- answered just one of the questions hanging over the struggling institution.
There’s the fate of Chairman Paul Achleitner and whether a divided board can close ranks behind the new CEO. Sewing also confronts a decision on scaling back the investment bank -- both Deutsche Bank’s biggest source of revenue and a perennial laggard against U.S. giants -- and winning over long-suffering shareholders.