Deutsche Bank CEO says financial mkt activity muted

FRANKFURT May 31 (Reuters) - Deutsche Bank Chief Executive Josef Ackermann said he remains concerned by economic conditions, debt levels and the lack of will to carry out reforms in some euro zone countries.

Speaking to shareholders gathered in Frankfurt for the bank's annual general meeting, Ackermann was bearish about the outlook for his industry as he bid farewell to the bank after a decade as chief executive.

"Together with geopolitical uncertainties, this could impact the recovery of the global economy over the course of the year. Against this background and the ongoing regulatory debate, financial market activity remains muted," Ackermann said.

The annual general meeting marked the handover of power to co-Chief Executives Anshu Jain and Juergen Fitschen. (Reporting by Edward Taylor)