Former Deutsche Bank co-chief executive Fitschen to head up firm's charitable foundation

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Jürgen Fitschen left the top job at Deutsche Bank in May last year (Source: Getty)

Former Deutsche Bank co-chief executive Juergen Fitschen is to head up the firm’s charitable foundation.

Fitschen, who has been an adviser to the bank since his departure from the top in May 2016, was today named chairman of Deutsche Bank Foundation.

He will succeed Clemens Borsig, who has headed up the foundation since 2013.

“We are delighted that Juergen Fitschen has agreed to head Deutsche Bank Foundation,” said the bank’s chief executive, John Cryan.

“During his career, not only has he given tremendous service to the bank; he has also been very closely involved with our corporate social responsibility initiatives.

“On behalf of the management board, I would also like to thank Clemens Borsig for the major part he has played in the foundation’s successful work over the past years.”

Fitschen announced he would be stepping down from the top of Deutsche Bank, along with his co-chief executive Anshu Jain, in June 2015. He remained on in the position for another 11 months.

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