Investors in Deutsche Bank were in for a shock last week: Shocked by a record loss for 2015, by the prospect of two more lost years looming on the horizon and, most of all, by the plunge in the stock price of Germany’s largest bank.
It’s been a tough start to 2016. The price has declined by 28 percent since the beginning of the year, and the bank has lost nearly half of its market value within the last six months. John Cryan, the bank’s co-chief executive, has warned the next two years won’t be much better as the bank undergoes a drastic restructuring and works to settle thousands of costly legal cases and regulatory investigation.
The share plunge has prompted Deutsche Bank’s major investors to announce that they intend to meet in the coming weeks with Paul Achleiter, the chairman of the bank’s non-executive supervisory board, which has the power to set strategy and hire and fire the bank’s top executives.