Deutsche Bank is now more than 150 years old, but of course the largest German financial institution still wants to keep its finger on the pulse – track down global trends and know what’s going on “technologically, macroeconomically or geopolitically”. As a global group, Deutsche Bank also has all kinds of capacities: after all, more than 80,000 employees represent the institute in over fifty countries; it has a recognized research department and “innovation labs” where the banking of the future is being developed. In addition, there are many highly paid managers (520 income millionaires, to be precise) and finally a supervisory board with international capacities.
Apparently, however, all this is not enough. A “global advisory board” is now to advise the money house on tracking down the major trends, as the bank announced this week. “Your impulses will help us to be an important contact for our customers as a global house bank for future issues,” Deutsche Bank boss Christian Sewing was quoted as saying.
future questions. That sounds good. In the house, however, many are now wondering what is really behind it. In fact, there are such bodies in many corporations. However: The round, which is supposed to meet twice a year (opening meeting in New York, where else) is chaired by Paul Achleitner, of all people, the long-time ex-chairman of the supervisory board, during whose tenure the share price of the financial institution more than halved. It was not until May that the 66-year-old handed over his post to Dutchman Alexander Wynaendts, and even then many were wondering whether Achleitner could let go.
“Quite mature personalities”
Now he is back and with him international celebrities: Former US Secretary of State Henry Kissinger, 99, former Google boss Eric Schmidt, 67, ex-Pepsico boss Indra Nooyi, 67, and Rafael Reif, 72, President of the US – MIT University. At the young age of 57, “Advisory Board Benjamin” is Siemens Supervisory Board Chairman Jim Hagemann Snabe.
Apart from the question of what signal it sends out for his successor when the former chairman of the supervisory board reappears after nine months, many employees are apparently not clear which future topics the group wants to work on. In any case, there was criticism on the bank’s intranet this week. They are “rather mature personalities”, where is the voice of the younger ones, wrote one. “It looks like a mini Davos to me,” someone wrote, referring to the meeting of the business elite in the Swiss mountains. Another remarked: the thing sounds good, but who is paying for all this?
In fact, the board pays the bank. However, one speaks of a “very moderate expense allowance”, according to company circles. None of the members need the extra income, everyone is “interested in the matter”. And does the committee only exist because Achleitner can’t find a job? You don’t want to let that stand in your environment. It is said that he has anything but a leisure problem.