Paul M. Achleitner (born 28 September 1956 in Linz) is an Austrian businessman who served as chairman of the supervisory board of Deutsche Bank[2] from 2012 to 2022.[3]
Paul Achleitner | |
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| Born | 28 September 1956  |
| Education | University of St. Gallen, Harvard Business School |
| Net worth | 85€ million [1] |
| Awards |
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Education
editAchleitner studied Business Administration, Economics, Law and Social Sciences at the University of St. Gallen, where he also earned his doctorate.[4][5] He was also a visiting fellowship at Harvard Business School from 1982 to 1984.[6][7]
Career
editEarly career
editAchleitner worked for Bain and Company and as the managing director of the German subsidiary of Goldman Sachs. In 2000, Achleitner joined Allianz AG as chief financial officer, where he was primarily responsible for finance and investments.[8] He left Allianz in 2012.
Deutsche Bank, 2012–2022
editafter his appointment to the chairman of the supervisory board of Deutsche Bank.[8] He retained the support of the bank's biggest shareholder, Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani,[9] and, in 2017, shareholders backed Achleitner's re-election to a second five-year term.[10] From 2018 until 2020, he faced for three years in a row a vote to remove him from his post.[11] Through his time in office, he oversaw multiple CEO changes, including Anshu Jain (2012-2015), Jürgen Fitschen (2012-2016), John Cryan (2015-2018) and Christian Sewing (2018–2022).[12]
According to various surveys,[13] Achleitner was the highest paid supervisory board head at Germany's 30 biggest listed companies that make up the benchmark DAX index between 2016[14] and 2018.[12] In August 2019 alson, he bought nearly 1 million euros of the bank's shares.[15] In Munich, he shares an office with his wife Ann-Kristin Achleitner, Michael Diekmann, Joachim Faber and Peter Löscher.[16]
Other activities
editAchleitner 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,[17] and a member of the German federal commission for the German Corporate Governance Code.
Corporate boards
edit- Deutsche Bank, Chair of the Global Advisory Board (since 2022)[18][19]
- Hakluyt & Company, Member of the International Advisory Board (since 2022)[20]
- Bayer AG, Member of the Supervisory Board (since 2002)[21]
- Henkel AG & Sons, Member of the Shareholders' Committee (since 2001), Member of the Finance Subcommittee[22]
- Daimler, Member of the Supervisory Board (2010-2020)[23]
- RWE AG, Member of the Supervisory Board (2000-2013)
Non-profit organizations
edit- Alfred Herrhausen Gesellschaft of Deutsche Bank, Chairman of the Board of Trustees
- Bilderberg Group, Treasurer and Member of the Steering Committee[24]
- Bocconi University, Member of the International Advisory Council[25]
- European Financial Services Roundtable (EFR), Chairman[26]
- Brookings Institution, Member of the Board of Trustees (since 2013)[27]
- Munich Security Conference, Member of the Advisory Council[28]
Personal life
editAchleitner is Jewish. He is married to Ann-Kristin Achleitner, a professor of business at Technische Universität München.[29]
References
edit- ^ "Paul Achleitner Vermögen". 2 November 2020.
- ^ "All the President's Friends: These Are Trump's Ties in Davos". Bloomberg.com. Retrieved 2018-01-25.
- ^ "Supervisory Board". Deutsche Bank. Archived from the original on 6 June 2013.
- ^ "Dr. Paul Achleitner". Daimler. Archived from the original on 27 April 2014. Retrieved 30 January 2013.
- ^ "Achleitner move to Deutsche Bank defuses conflict". Reuters. 2011-11-15. Retrieved 2019-11-01.
- ^ Fromme, Herbert (2011-11-16). "Die deutsche Sonne". Herbert Frommes Versicherungsmonitor. Retrieved 2022-05-17.
- ^ Dougherty, Carter (2007-07-13). "A governance guru". The New York Times. ISSN 0362-4331. Retrieved 2019-11-01.
- ^ a b Ewing, Jack (2018-05-20). "Deutsche Bank's Problems Threaten a Star Banker". The New York Times. ISSN 0362-4331. Retrieved 2019-12-05.
- ^ James Shotter (November 21, 2016), Deutsche Bank nominates Achleitner for second term as chairman Financial Times.
- ^ Tom Sims (May 18, 2017), Deutsche Bank management gets shareholder backing of its agenda at AGM Reuters.
- ^ Tom Sims, Patricia Uhlig and Hans Seidenstuecker (May 20, 2020), Deutsche Bank chairman to stand down in 2022 Reuters.
- ^ a b Hans Seidenstuecker (October 8, 2019), Deutsche Bank's chairman best paid among German blue chips in 2018 Reuters.
- ^ Hans Seidenstücker (April 29, 2019), Deutsche Bank's Achleitner best-paid chairman of German companies -survey Reuters.
- ^ Christoph Steitz (November 23, 2016), Top German supervisory board chairs earn 4.4 pct more in 2016-report Reuters.
- ^ Hans Seidenstuecker (September 2, 2019), Deutsche CEO to invest 15% of monthly net pay in bank's shares Reuters.
- ^ Henning Peitsmeier and Klaus Max Smolka (May 22, 2017), Die geheime Machtzentrale in München Frankfurter Allgemeine Zeitung.
- ^ "Deutsche Bank's Paul Achleitner to Head Commission FTD says". Bloomberg. Archived from the original on April 7, 2013. Retrieved 1 March 2013.
- ^ Global Advisory Board to advise Deutsche Bank on key trends in business and politics Deutsche Bank, press release of 1 November 2022.
- ^ Tom Sims (1 November 2022), Deutsche Bank creates new advisory body led by former chairman Reuters.
- ^ Paul Achleitner joins Hakluyt’s International Advisory Board Hakluyt & Company, press release of 28 July 2022.
- ^ Supervisory Board Bayer AG.
- ^ "Paul M. L. Achleitner". Businessweek. Retrieved 25 February 2013.[dead link]
- ^ Martin Murphy and Franz Hubik (February 15, 2020), Paul Achleitner verlässt Daimler-Aufsichtsrat Handelsblatt.
- ^ Steering Committee Bilderberg Group.
- ^ International Advisory Council Bocconi University.
- ^ Paul Achleitner European Financial Services Roundtable (EFR).
- ^ Brookings Announces New Trustees Brookings Institution, press release of July 19, 2013.
- ^ Advisory Council Munich Security Conference.
- ^ Fockenbrock, Dieter (16 November 2011). "Paul und Ann-Kristin Achleitner: Die Familien-Aufseher" [Paul and Ann-Kristin Achleitner: The Supervisor Family]. Handelsblatt.