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Deutsche Bank CEO speaks of ‘tough cutbacks’ at contentious shareholder meeting

Deutsche Bank’s chief executive promised shareholders "tough cutbacks" at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany’s biggest lender, whose shares hit a record low.

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Deutsche shares have risen 16% over the past month, bouncing off an all-time low in early June after CEO Christian Sewing called for "tough cutbacks" at a contentious shareholder meeting. However, the multi-year decline is evident in a share price at Friday’s close of 7 euros, as opposed to 112 euros at their pre-crisis peak.

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 · New Chief Executive Officer Philip Jansen would have been well aware of the issues when he took the reins in February. He would also have seen how contentious disputes over pricing and other issues with the nation’s regulator, Ofcom, contributed to his predecessor’s demise.

CEO of Deutsche Bank Christian Sewing, left, and head of supervisory board Paul Achleitner are on their way to the annual shareholders meeting in Frankfurt, Germany, Thursday, May 23, 2019.

Deutsche Bank may have gone through a number of strategy overhauls in recent years, but its chief financial officer (cfo) told cnbc sunday that the bank is determined this new round of restructuring will be its last. "We are very confident this is the final restructuring for this organization.

The most common situation in community banks is for the chairman to merely gavel the meeting to order, gavel the meeting closed, and “preside” over votes. The latter is a fancy way of saying that the chairman repeats the number of votes counted by the designated vote counter. What makes for a strong, effective community bank chairman?

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Deutsche Bank CEO speaks of ‘tough cutbacks’ at contentious shareholder meeting CNBC Deutsche Bank executives met with shareholders Thursday, as the bank’s tumbling share price and growing backlog of scandals place the board firmly in the.

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