However, the supervisory board met at the weekend and decided his fate. "And for that we need to be successful, that's our lifeline".
Achleitner also defended his decision to propose former Merrill Lynch CEO John Thain for a position on the bank's supervisory board, a proposal on which shareholders will vote next month.
Garth Ritchie and Karl von Rohr will serve as deputy CEOs. Sewing acknowledged in a message to employees released Monday that Cryan "led us through an extremely hard period" and many "greatly appreciate" him.
Sewing, a member of the management board since 2015, had been overseeing Deutsche Bank's private and commercial bank division, which includes the Postbank retail banking unit.
"The new leadership team will not accept this anymore. We trust in the great ability of this bank and its many talents".
Cryan took charge at Deutsche less than three years ago to overhaul the bank, draw a line under a string of legal disputes, and cut costs. Realistically speaking, this volatility measure can be used by stock traders of the mini-market for multiple reasons and purposes in evaluating the actual price momentum plus the rate of change in MA's price.
By digging out more, shifting focus on performance of the Deutsche Bank Aktiengesellschaft (NYSE:DB) that has shown a discernible change in trend levels over the path of recent market activity.
Deutsche and Santander's United States unit were the only two of 33 banks to fail the test, which assessed how they would perform in a financial crisis. "It seems rather to be a fundamental "Deutsche Bank problem".
Maintaining the "status quo is not an option", they stressed.
"We'll have to further adapt our revenue, cost and capital structure", Mr Sewing told staff of the division.
"This would mean a shrinkage of most of [the] United States [business] to U.S. equities, USA lending and rates business with some reduction in credit business", leading to a "smaller global CIB footprint and a drive to change the culture which is shareholder driven".
1998 - Deutsche Bank declares its large portfolio of shareholdings in German corporations to be non core.
Deutsche Bank Aktiengesellschaft (DB) closed the Friday at final price of $13.87 after traded 4373711 shares.
Mr Cryan had been at the helm of Deutsche since 2015 and was initially given a contract until 2020 to guide a five-year turnaround plan.
Achleitner also thanked Cryan for his efforts.
The "unusually high turnover" on Deutsche's supervisory board is another issue that warrants addressing.
The scope of his career with the lender will be instrumental in helping him manage Deutsche Bank's global operations.
Institutional Ownership/ Insider Ownership: Deutsche Bank Aktiengesellschaft institutional ownership is held at 0% while insider ownership was 2.7%.
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