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Germany: Investors told to protest against Deutsche Bank chairman

By  |  May 9, 2019

According to The Financial Times a European proxy adviser has backed a shareholder protest vote against Deutsche Bank’s chairman and three of the lender’s senior executives at its annual meeting later this month.

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    The move by ECGS, a European proxy vote adviser, heaps more pressure on Germany’s biggest bank ahead of what looks set to be an uncomfortable annual meeting on May 23 only weeks after it broke off merger talks with rival Commerzbank. 

    The merger talks had briefly offered the promise of salvation for an institution that has lurched from scandal to scandal in recent years and lost more than half its market value since the start of 2018.

    Two of the biggest proxy advisers, Glass Lewis and ISS, have already advised investors to vote against motions that endorse the performance of the bank’s supervisory and management boards, citing its scandal-littered recent past and weak profitability.

    Full Content: Financial Times

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