ANSHU Jain has emerged as front-runner to succeed Josef Ackermann as Deutsche Bank's CEO. It looks increasingly likely that he will be nominated shortly for Germany's top banking job.
According to the media reports, initially it is being considered that he shares the post with Fitschen because of his deficiency to communicate in German and lack of high-level networking in German politics.
Even though Jain seems to be assured of the top Deutsche Bank job, Fitschen's expected nomination as co-head is seen as a short-term solution because he will have to retire when he reaches 65, shortly after taking over his post in 2013.
On the other hand, Deutsche Bank's supervisory board is convinced that 48 year old Jain who currently runs the bank's highly successful investment banking business from its headquarters in London has the best credentials to succeed Ackermann.
Jain's chances to take over the helm of the Deutsche Bank were boosted by the announcement of the Swiss bank UBS over a week ago that former president of the German Bundesbank, Axel Weber, will become the head of its management board in 2013.
