Josef Ackermann

Josef Ackermann

Josef Ackermann (born February 7, 1948) is a Swiss banker and CEO of Deutsche Bank.

Josef Ackermann agreed at the end of 2009 to continue as chief executive of Deutsche Bank for another three years until 2013.

In February 2011 he sparked anger by saying that appointing women to Deutsche Bank's executive board, a subordinate body to the board of directors, would make it "prettier and more colourful". His comments were in response to the debate on whether Germany should set quotas for the number of women on company boards, as Norway, Spain and France have done.

Background

From the Deutsche Bank website:

Dr. Josef Ackermann joined Deutsche Bank as a member of the Management Board in 1996, where he was responsible for the investment banking division. On May 22, 2002, Dr. Ackermann was appointed Spokesman of the Management Board and Chairman of our Group Executive Committee. On February 1, 2006, he was appointed Chairman of the Management Board. After studying Economics and Social Sciences at the University of St. Gallen, he worked at the University's Institute of Economics as research assistant and received a doctorate in Economics. Dr. Ackermann started his professional career in 1977 at Schweizerische Kreditanstalt (SKA) where he held a variety of positions in Corporate Banking, Foreign Exchange/Money Markets and Treasury, Investment Banking and Multinational Services. He worked in London and New York, as well as at several locations in Switzerland. Between 1993 and 1996, he served as President of SKA's Executive Board, following his appointment to that board in 1990. After studying Economics and Social Sciences at the University of St. Gallen, he worked at the University's Institute of Economics as research assistant and received a doctorate in Economics. Dr. Ackermann started his professional career in 1977 at Schweizerische Kreditanstalt (SKA) where he held a variety of positions in Corporate Banking, Foreign Exchange/Money Markets and Treasury, Investment Banking and Multinational Services. He worked in London and New York, as well as at several locations in Switzerland

Affiliations

• Second Deputy Chairman of Siemens AG
• Non Executive Director of Shell
• Visiting professor of Finance at the London School of Economics
• Visiting professor at the Johann Wolfgang Goethe University
• President of the Board of Trustees of the St. Gallen Foundation for International Studies
• President of the Board of Patrons of the Institute for Corporate Culture Affairs
• Chairman of the Board of Directors of the Institute of International Finance

Income

According to Financial Times Germany Ackermann earned in 2009 9,4 Million Euro and 2010 8,8 Million Euro. His included bonus in 2009 was 8,2 Million Euro and 7,1 Million Euro in 2010.

External Resources

• Elena Logutenkova and Aaron Kirchfeld, Ackermann Says Restructuring Greek Sovereign Debt Would be ‘Huge Mistake’, bloomberg.com, 12 May 2011.
• Jack Ewing and Liz Alderman, Deutsche Bank’s Chief Casts Long Shadow in Europe, New York Times, 20 June 2011.