The former boss of Deutsche Bank, Rolf Breuer, is dead. The former CEO and chairman of the supervisory board died at the age of 86 after a long illness surrounded by his family.
The former CEO and Chairman of the Supervisory Board of Deutsche Bank, Rolf Breuer, is dead. He died on Wednesday after a long illness at the age of 86, surrounded by his family. Deutsche Bank announced this today.
Breuer spent almost his entire professional life at Deutsche Bank. During his time as CEO of the financial institution from May 1997 to May 2002, he drove forward the internationalization of the group and expanded the capital market business. For example, Deutsche Bank shares were listed on the New York Stock Exchange in 2001 under Breuer’s leadership. Breuer then headed the supervisory board of Germany’s largest financial institution for four years.
“Old school banker”
The acting chairman of the supervisory board, Alexander Wynaendts, praised Breuer’s achievements: With the takeover of the US bank Bankers Trust, he made a significant contribution to “the fact that Deutsche Bank can now support its customers worldwide in all financial matters and has the necessary global network and the expertise”. With Rolf-Ernst Breuer, Deutsche Bank is losing one of its most influential personalities.
Christian Sewing, current CEO of Deutsche Bank, also remembered Breuer’s achievements: “I experienced Rolf Breuer as an ‘old school’ banker in the best sense, with a classic appearance but also enormous strategic vision.”
However, Breuer’s term in office was not free from turbulence. At the beginning of 2002, the then head of Deutsche Bank questioned Leo Kirch’s creditworthiness in a conversation with Bloomberg TV that was published on February 4, 2002. His media company went under a short time later. Throughout his life, Kirch blamed Breuer and Deutsche Bank for this. It was only years later that the bank agreed to a settlement worth millions with the church heirs.