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01.07.2015

11:40 Uhr

Handelsblatt auf Englisch

Not Sparing Any Change

VonLaura de la Motte, Michael Maisch, Sven Afhüppe, Katharina Slodczyk

John Cryan, the new chief executive at Deutsche Bank is starting his new job on the hottest day of the year. He's likely to be sweating, less because of the temperature than changes he faces, from restructuring to winning back trust.

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Today is actually John Cryan's first official day at work as new co-CEO of Deutsche Bank.

But in the three weeks since the board decided to appoint Mr. Cryan as successor to Anshu Jain at the top of Germany's largest bank, he has held a string of meetings with some key managers at the institution.

They include Colin Fan, the co-head of Deutsche Bank's important investment banking division, and Werner Steinmüller, the head of the successful Global Transaction Banking division.

As a member of Deutsche's supervisory board, the new co-CEO is already familiar with the bank's strategy, but he has had little contact with its top managers.

What's clear already, though, is that Mr. Cryan is set on change and plans to run Deutsche Bank differently than his predecessors.

Those who spoke with him in the past few weeks describe Mr. Cryan as a "classic restructurer," someone who is determined to consistently reduce the bank's costs – and with as little fuss as possible.

To continue reading this story, go to Handelsblatt Global Edition.

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