Juergen Fitschen German economist, member of the board of Deutsche Bank Date of Birth: 01.01.1948 Country: Germany

1. Early Life and Education
2. Career at Citibank
3. Joining Deutsche Bank
4. Ascent within Deutsche Bank
5. Co-CEO Candidacy
6. Investigation and Criticism
7. Other Affiliations

Early Life and Education

Jürgen Fitschen was born in Harsefeld, Lower Saxony, Germany in 1948. He attended Athenaeum Stade high school and then pursued economics and business administration at the University of Hamburg, graduating with a master's degree in business administration in 1975.

Career at Citibank

After completing his studies, Fitschen held various positions at Citibank International in Hamburg and Frankfurt am Main from 1975 to 1987. In 1983, he became a member of Citibank's German Executive Committee.

Joining Deutsche Bank

In 1987, Fitschen joined Deutsche Bank, working in various offices in Thailand, Japan, and Singapore. He was appointed to Deutsche Bank's Frankfurt Regional Board, responsible for Global Corporates and Institutions, in 1999. The following year, he moved to a newly created unit in London.

Ascent within Deutsche Bank

In 2001, Fitschen joined Deutsche Bank's Group Executive Committee, overseeing the Corporate and Investment Banking division. From 2002, he was a member of Deutsche Bank's Group Executive Committee. In 2005, he became the head of Deutsche Bank's Global Regional Management and Chairman of the Regional Executive Committee for Germany. In 2009, he joined the Management Board of Deutsche Bank Group.

Co-CEO Candidacy

On July 25, 2011, Fitschen and Anshuman Jain were nominated as co-heads of Deutsche Bank by the bank's annual shareholders' meeting.

Investigation and Criticism

In December 2012, Fitschen was investigated for alleged tax evasion related to a 2009 share sale. The scandal, centered around carbon emissions trading scheme manipulation, also implicated Deutsche Bank's Chief Financial Officer Stefan Krause. Raids by 500 police officers and tax auditors were conducted at Deutsche Bank offices in Frankfurt, Düsseldorf, and Berlin, and searches were made at suspects' homes. In total, five bankers were arrested and 25 faced charges including tax evasion, money laundering, and obstruction of justice. Following the raids, Fitschen called Hesse's Prime Minister Volker Bouffier to complain, stating that such raids were "damaging to the reputation of Germany's largest lender." Some German politicians were outraged by Fitschen's call, labeling it as an "attempt to influence the judiciary." In a television interview, Hesse's Prime Minister commented that Fitschen's actions "were very unusual, but we are in a free country and everyone may make complaints."

Other Affiliations

Fitschen is a member of the Trilateral Commission's European Group, the Board of Directors of Kuehne + Nagel International AG, and the Supervisory Boards of METRO AG and Schott AG. Since April 15, 2013, he has been the President of the Federal Association of German Banks.