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Email Furor Leaves Deutsche Bank’s Reputation at Risk Once More

  • Chairman Achleitner said to have held tense call with Schuetz
  • Board member Schuetz said not to plan resigning for time being
Markus Braun
Markus BraunPhotographer: Alex Kraus/Bloomberg

Shortly after a controversial set of emails between a Deutsche Bank AG supervisory board member and Wirecard AG’s then-Chief Executive Officer Markus Braun became public last week, Paul Achleitner picked up the phone for a tense conversation.

The Deutsche Bank chairman spoke to his colleague, Alexander Schuetz, letting him know he found the content of the exchange unacceptable, according to people familiar with the discussion. Achleitner is due to speak to Schuetz again this week. While the director publicly apologised for his comments, he doesn’t plan to resign for the time being, one of the people said.