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Deutsche Bank Chairman Says Cryan Was Done Even Without Leaks

John Cryan.
John Cryan.Photographer: Andreas Arnold/Bloomberg

Deutsche Bank AG’s John Cryan was through as chief executive officer even without the public debate that preceded his ouster, according to the lender’s chairman.

Despite repeated prodding, Cryan didn’t react quickly enough to demands that he be tougher on costs and speed up decision-making, Chairman Paul Achleitner said at the bank’s annual general meeting in Frankfurt on Thursday. Speaking to skeptical shareholders, the chairman defended his decision to oust the CEO who had brought the global investment bank back from the brink about 18 months ago.