Deutsche Bank bosses resign after record fine

The co-chief executive of Deutsche Bank have stepped down from their position, weeks after the bank was fined a record £1.7bn for manipulating LIBOR.

Anshu Jain will leave at the end of June, and Juergen Fitschen will leave in May 2016, despite their contracts having been due to run until 2017. The pair have headed Deutsche since the departure of predecessor Josef Ackermann in 2012. They will be replaced by John Cryan, former finance chief at UBS, who has sat on the firm's supervisory board for the past two years. He begins his new role on 1 July. At the firm's annual meeting in May, 39% of shareholders voted against approving the pair's 2014 performance record, a marked contrast with the 89% who supported their record the previ...