(Bloomberg) -- Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported.
Deka Investment, one of the bank’s shareholders, called it “unusual” for a CEO to run a division while there’s ongoing restructuring involving 18,000 job losses. Ingo Speich, the head of corporate governance for Deka, suggested that it would be more appropriate to split the function. Another investor, who wasn’t identified in the report, also cited concerns to the Telegraph.
The investors comments come at a time when regulators were said to be urging Sewing to hand oversight of the investment bank to someone else to focus on his main role.
The bank said there are “presently no plans to change management board responsibility for our investment bank,” according to the report.
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