Succession war in Deutsche Bank

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India- born Anshu Jain is the current favorite of many shareholders for the next in line to become the CEO of Deutsche Bank, but the incumbent Josef Ackermann doesn?t seem to favor him.

Jain, who is currently the head of Investment banking, is responsible for the most profitable business of the German based banking giant. According to sources, ?Ackermann appears increasingly opposed to the idea that the next CEO should be Jain, the favorite of many shareholders.?

As reported by a newspaper, the senior ranks of the bank are on the verge of ?open warfare? as the process of finding a successor to Ackermann ?degenerates into acrimony?.

Deutsche bank has not yet appointed a successor to Ackermann, whose contract runs until 2013.

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