Josef Ackermann | |
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 Ackermann at theWorld Economic Forum annual meeting in 2012 | |
| Born | Josef Meinrad Ackermann (1948-02-07)7 February 1948 (age 77) Walenstadt,Canton of St. Gallen, Switzerland |
| Alma mater | University of St. Gallen |
| Occupation | Banker |
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Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former chairman of theBank of Cyprus, and formerchief executive officer ofDeutsche Bank. He has also been a member of theWashington-based financial advisory body, theGroup of Thirty.
He was born inWalenstadt,[1]Canton of St. Gallen,Switzerland, raised inMels in aCatholic home,[2] and is a graduate of theUniversity of St. Gallen (HSG). After studying economics and social sciences at theUniversity of St. Gallen in Switzerland,[3] he continued his time there as a research assistant at the Department of Economics and went on to receive adoctorate in the subject.
After leaving university Ackermann went to work in 1977 for the Swiss multinational investment bankCredit Suisse, which he left in 1996. In the same year he joined the board of directors of theDeutsche Bank inFrankfurt am Main. He served as chairman of the board from 2002 to 2012. In March 2019 theNew York Times reported that Ackermann was aware of the business dealings between the New York branch of the bank andDonald Trump.[4]
Ackermann agreed at the end of 2009 to continue as chief executive of Deutsche Bank for another three years until 2013.[5] At the annual shareholder meeting in late May 2012, he "handed over the CEO baton" to co-CEOsAnshu Jain andJuergen Fitschen.[6]
According to theFinancial Times Deutschland Ackerman earned €9.4 million in 2009 and €8.8 million in 2010.[7] His included bonus in 2009 was €8.2 million and €7.1 million in 2010. He is a member of the Steering Committee of theBilderberg Group.[8]
Other positions held:
Days after retirement and on the eve of a conference call byG7 finance ministers and central bank governors on thecontinuing European debt crisis, Ackerman said in a speech to theAtlantic Council that "Germany will ultimately take whatever steps [are] necessary to keep the euro zone intact", according to one report. The country "is moving cautiously because it simply fears that countries on the European periphery will stop reform measures if they see thatBerlin is going to guarantee everything", he continued.[13]
He was a non-executive director ofVodafone from 2000 to 2002.
In November 2014 he was elected as chairman of the board of directors of theBank of Cyprus following the proposal of the new major shareholder of the bankWilbur Ross, who later became theCommerce Secretary in thefirst Trump administration.[10]
He is married to Pirkko Mölsä.[citation needed]
Media related toJosef Ackermann at Wikimedia Commons
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