Deutsche Bank and Jain Fitschen

John Cryan: Without naming an official reason for the switch, Deutsche Bank said on Sunday that Jain, 52, would leave at the end of June and maintain an advisory role, according to Deutsche Welle. Fitschen, who is 67, will remain for one year and familiarize Jain successor, John Cryan, with the new job. Several weeks after a tumultuous shareholders meeting at which some of the bank most powerful investors rescinded their support for the two co-chiefs, Jain and Fitschen days at the helm of the German banking giant are coming to an end. After that, Fitschen will retire. But he and co-CEO Fitschen have struggled to create a new corporate culture and usher in an era in which regulatory penalties, litigation costs and settlements don't weigh on profits, but their success has been limited. "What they've done until now hasn't gone down well with shareholders," Hans-Werner Sinn, the president of a leading German economic research organization, said in an interview with DW on the sidelines of the G7 summit in Bavaria. "Things will hopefully get better. Unhappy shareholders It has been only two weeks since Jain was given more power to reorganize the bank. (news.financializer.com). As reported in the news.