FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) co-Chief Executive Juergen Fitschen’s contract is set to be extended until 2017, two sources familiar with the plan said on Wednesday.
“That will nip in the bud any discussion over succession,” one of the sources told Reuters.
A second source said that the supervisory board sub-committee responsible for executive staffing at Germany’s largest lender had agreed on the extension with the approval by the full supervisory board seen as a formality.
Fitschen, 65, currently holds a contract that expires in 2015. He leads the bank together with co-Chief Anshu Jain.
Deutsche Bank declined to comment.
Reporting by Philipp Halstrick, writing by Jonathan Gould