The ex-CEO of Deutsche Bank, Rolf Breuer, has passed away.
The ex-CEO of Deutsche Bank, Rolf Breuer, has passed away. He died at 86, surrounded by his family, confirmed the bank on Wednesday. Breuer advanced the bank's international expansion, but also faced legal issues with the Kirch Group.
Rolf Breuer, the former CEO and Vice Chairman of Deutsche Bank's Supervisory Board, died at age 86 after a long illness, the bank announced in Frankfurt. Breuer dedicated most of his career to Deutsche Bank. As CEO from May 1997 to May 2002, he spearheaded the Group's international growth and expanded its capital market business. Afterward, he served as Chair of the Supervisory Board for four years.
Alexander Wynaendts, the current Chair of Deutsche Bank's Supervisory Board, honored Breuer's accomplishments: through the acquisition of the US bank Bankers Trust, he played a major role in allowing Deutsche Bank to help its clients globally with all financial services and possess the required global network and knowledge. The bank will miss one of its most influential personalities with Rolf-Ernst Breuer's passing.
Breuer's tenure wasn't without troubles. Briefly speaking into a reporter's microphone in early 2002, Breuer had doubts about Leo Kirch's creditworthiness. The Kirch Group went bankrupt shortly after. Kirch later accused Breuer and Deutsche Bank for this. Not until several years later did the bank agree to a multi-million settlement with Kirch's heirs.
[Text deformation: "straightforward" -> "simple", "tributes" -> "paid tribute", "blamed" -> "accused", "agreed" -> "agree"]
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Source: www.ntv.de
