Anshu Jain is the head of Deutsche Bank’s Corporate & Investment Bank, sits on the management committee and oversees operations that produce upwards of 90 percent of the firm’s profits in any given quarter. He’s considered a “star” at DB and among those who follow his work and with CEO Josef Ackermann’s contract expiring in 2013, many believe AJ should be named the successor. According to portfolio manager (and shareholder) Lutz Roehmeyer, “Mr. Jain deserves to run Deutsche Bank” and if you ask BlackRock’s Larry Fink, he’ll tell you “Anshu has done a fantastic job…He would make a very good chief executive at Deutsche.” Unfortunately, there are a few problems, not the least of them being Germany’s need to examine its motives.

“In Germany, no one can imagine an Indian working in London who does not speak German being the C.E.O. of Deutsche Bank,” said Roehmeyer.

There’s also the matter of Ackermann seeing it as “his legacy to crown a successor in his own statesman-like mold — perhaps Axel A. Weber, the recently departed head of the German central bank” and the board being “wary of choosing a bond and derivatives technician at a time when the practices of all major banks are still being scrutinized.” Regardless, this is his time, this is his moment, and this is going to happen for AJ.

According to Fink, Jain would make a great CEO not just of DB but “any other top financial institution.” Don’t take that as a threat, just a fact. If Ackermann won’t pass the crown to Anshu, he’ll just have to find someone else who will.  “Anshu is the best non-CEO working at a major bank,” Robert Flohr a senior search executive at Heidrick & Struggles told the Times. “He is the prince. All he needs is a kingdom.”

Who’s got something available?

A Star Faces Barriers to Deutsche Bank’s Top Job [NYT]

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Comments (42)

  1. Posted by Guest | June 14, 2011 at 11:03 PM

    Gentlemen overseas, please stay serious. Jain can drive cabs in Frankfurt but the one and only deserving the throne is Lippmann!

  2. Posted by Guest | June 14, 2011 at 11:09 PM

    kill yourself.

  3. Posted by Guest | June 14, 2011 at 11:13 PM

    you’re a douche.

  4. Posted by Bank of America | June 15, 2011 at 12:40 AM

    Last dance with Anshu Jain
    One more time to kill the pain

  5. Posted by FinkNottle | June 15, 2011 at 1:20 AM

    ‘Kinder statt Inder’

  6. Posted by Guest | June 15, 2011 at 1:39 AM

    Those German politicians and shareholders need to loosen up and embrace the new world. Jain has proven himself and I’m sure UBS, Citi, and maybe BAML will beat the door down to have him.

  7. Posted by Ghost of blimp pilot | June 15, 2011 at 1:52 AM

    If it doesn’t go through he’s at least got his Microsoft Architect certification to fall back on.

  8. Posted by HFguy | June 15, 2011 at 11:19 AM

    If the French were fine with Indian Mittal taking over their steel company Arcelor (not without a fight though which saw Sarkosy in the ring) .. I dont know what the Germans would like to see before they let Anshu run the bank. Profit doesnt see the colour of your skin. 

  9. Posted by Poornastybrutishandshort | June 15, 2011 at 12:26 PM

    I’ve known and worked with AJ at ML and DB from the early ’90s. He’s very smart, articulate, generally fair and has done an outstanding job. He understands risk well and supports intelligent investment in resources and businesses while cutting wood. He’s got two Achilles heels.. he’s a bit rough (not statesman like in approach) and -oddly-slightly insecure. Which manifests in berating or gratuitous demonstrations of mental horsepower. Edson on the other hand would say.. ‘you are supposed to be smarter than me, stop trying to prove it….’   Either way, he should get the job. He’d change DB and that’s what they fear…. to be frank, Edson’s plane crash was highly improbable… read the NTSB dbase account… the rate of descent, given the last radar contact and ATC communication and approach speed for a King Air suggests that the plane descended at about 4 thousand feet per minute for about 90 seconds.. pretty shocking and hard to explain….  There a funny video from ML circa 1993 of AJ made by the ISG Group. Every year for the offsite, we’d make several videos… In this one, shot in a large conference room on the ML 7th Floor WTC (off the debt trading floor), Joe A was having his weekly meeting. Everyone gives a brief update… then AJ starts to talk… then the video goes into time lapse… after an hour, only one out of 40 people remain in the room. An associate catching up on sleep, and AJ is still discussing the interesting convexity of a euro convergence trade etc…give him credit for a good sense of humor.. 

  10. Posted by history in the buff | June 15, 2011 at 1:49 PM

    Not a great argument considering France’s recent history of being taken over.

  11. Posted by VictoryIsMine | June 15, 2011 at 2:52 PM

    First the armbands at the Munich Re Prostie Fest and now this. I see a trend here…

    -Guy who sees trends here

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    Since Marquis de Sade frogs were fine being pervs. Money made out of money is only masturbation and Anju might be the kaiser of masturbation but Germans like real sex

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