Acceptance in German circles key for Deutsches Anshu Jain

Written by Press Trust of India | Berlin | Updated: May 31 2012, 09:19am hrs
The initial moves of India-born Anshu Jain as the co-chief executive of German banking giant Deutsche Bank is likely to be closely watched especially in terms of gaining wider acceptance in the German public and business circles, according to analysts.

A well-respected investment banker, Jain would also be the first non-German speaking executive to steer Deutsche Bank when he officially takes charge along with Juergen Fitschen on Friday. The two executives would take over from Swiss national Josef Ackermann who was a close adviser to German Chancellor Angela Merkel on economic issues. Currently based out of London, 49-year-old Jain has been learning German since his nomination as co-CEO over a year ago. He, now, heads Corporate & Investment Bank business of Deutsche Bank.

Fluency in German would help him in working his way into the top echelons of German politics and business, analysts opined.

Under Jains stewardship, a major chunk of Deutsche Banks profits in the last few years came from investment banking operations.