Shareholders Rally behind Achleitner

Hauptversammlung Deutsche Bank
Deutsche Bank's comeback kid. Picture source: DPA

Major shareholders at Deutsche Bank, it seems, are ready to let bygones be bygones and give Paul Achleitner a second chance as supervisory board chairman.

According to information obtained by Handelsblatt, Deutsche Bank’s two largest shareholders, Chinese investor HNA and the Qatari royal family, will back Mr. Achleitner at the annual meeting on May 18.

It is a major turnaround in fortune for the 60-year-old Austrian. Last year, there was speculation that he might get the boot due to growing dissatisfaction among investors with his performance in the face of Deutsche Bank’s numerous legal and financial crises.

Want to keep reading?

Subscribe now or log in to read our coverage of Europe’s leading economy.