Big changes at Deutsche Bank ahead of the annual shareholders meeting failed to reassure investors the bank has got to grips with a crisis of confidence in its management.
Protesters outside called it a “criminal” meeting, with one throwing peanuts on the floor, clearly what he thought the banks’ shares were worth for him.
Boss Anshu Jain has had his powers boosted, and the board has been reshuffled in a management shakeup, but shareholders are unimpressed and say the measures don’t go far enough.
Deutsche Bank has underperformed compared to its rivals as after the financial crisis it tried to maintain its universal banking model, with unprofitable products and high costs.
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