Paul Achleitner

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Paul Achleitner
Paul Achleitner - World Economic Forum Annual Meeting 2012.jpg
Achleitner at the World Economic Forum annual meeting in 2012
Born 28 September 1956 Edit this on Wikidata (age 62)
Education University of St. Gallen

Paul M. Achleitner (born 28 September 1956) is an Austrian businessman. He has been chairman of the supervisory board of Deutsche Bank[1] since 31 May 2012.[2]

Education[edit]

Achleitner studied at the University of St. Gallen Business Administration, Economics, Law and Social Sciences, where he also earned his doctorate,[3] and at Harvard Business School.

Career[edit]

After working at the consulting firm Bain and Company and Goldman Sachs, where he was managing director of the German subsidiary, in 2000, Achleitner joined the board of Allianz AG (Allianz SE since 2006). He was primarily responsible for finance and investments. After his appointment to the chairman of the supervisory board of Deutsche Bank, he left Allianz.

During Achleitner's first four-year tenure at Deutsche Bank, its stock price more than halved, weighed down by a string of legal issues and fines running to billions of euros.[4] An internal investigation in 2016 cleared Achleitner of wrongdoing in connection with the bank’s manipulation of interbank borrowing rates including Libor, which cost it a record $2.5 billion in fines from U.S. and British authorities.[5] He retained the support of the bank’s biggest shareholder, Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani,[6] and, in 2017, shareholders backed Achleitner’s re-election to a second five-year term.[7]

According to a 2016 report by consultancy Willis Towers Watson, Achleitner is the highest paid supervisory board head at Germany’s 30 biggest listed companies that make up the benchmark DAX index.[8] In Munich, he shares an office with his wife Ann-Kristin Achleitner, Michael Diekmann, Joachim Faber and Peter Löscher.[9]

Achleitner is an honorary professor of the WHU - Otto Beisheim School of Management in Vallendar, Germany, where he teaches a course in investment banking. He is also head of the Exchange Expert Commission.[10] and a member of the German federal commission for the German Corporate Governance Code.

Other activities[edit]

Corporate boards[edit]

  • Daimler, Member of the Supervisory Board (since 2010)
  • MAN AG, Member of the Supervisory Board
  • Bayer AG, Member of the Supervisory Board (since 2002)[11]
  • Henkel AG & Sons, Member of the Shareholders' Committee (since 2001), Member of the Finance Subcommittee[12]
  • RWE AG, Member of the Supervisory Board (2000-2013)

Non-profit organizations[edit]

Personal life[edit]

He is married to Ann-Kristin Achleitner, a professor of business at Technische Universität München.[17]

References[edit]

  1. ^ "All the President's Friends: These Are Trump's Ties in Davos". Bloomberg.com. Retrieved 2018-01-25.
  2. ^ "Supervisory Board". Deutsche Bank. Archived from the original on 6 June 2013.
  3. ^ "Dr. Paul Achleitner". Daimler. Archived from the original on 27 April 2014. Retrieved 30 January 2013.
  4. ^ Kathrin Jones and Andreas Kröner (November 21, 2016), Achleitner's bid for five more years at Deutsche splits investors Reuters.
  5. ^ Kathrin Jones and Andreas Kröner (November 21, 2016), [Achleitner's bid for five more years at Deutsche splits investors] Reuters.
  6. ^ James Shotter (November 21, 2016), Deutsche Bank nominates Achleitner for second term as chairman Financial Times.
  7. ^ Tom Sims (May 18, 2017), Deutsche Bank management gets shareholder backing of its agenda at AGM Reuters.
  8. ^ Christoph Steitz (November 23, 2016), Top German supervisory board chairs earn 4.4 pct more in 2016-report Reuters.
  9. ^ Henning Peitsmeier and Klaus Max Smolka (May 22, 2017), Die geheime Machtzentrale in München Frankfurter Allgemeine Zeitung.
  10. ^ "Deutsche Bank's Paul Achleitner to Head Commission FTD says". Bloomberg. Retrieved 1 March 2013.
  11. ^ Supervisory Board Bayer AG.
  12. ^ "Paul M. L. Achleitner". Businessweek. Retrieved 25 February 2013.
  13. ^ Steering Committee Bilderberg Group.
  14. ^ Paul Achleitner European Financial Services Roundtable (EFR).
  15. ^ Brookings Announces New Trustees Brooking Institution, press release of July 19, 2013.
  16. ^ Advisory Council Munich Security Conference.
  17. ^ Fockenbrock, Dieter (16 November 2011). "Paul und Ann-Kristin Achleitner: Die Familien-Aufseher" [Paul and Ann-Kristin Achleitner: The Supervisor Family]. Handelsblatt.

External links[edit]