Deutsche silent on succession

Deutsche Bank’s board batted away shareholder questions about who it was lining up to succeed chief executive Josef Ackermann at its annual meeting yesterday. Angry investors told the bank to end speculation over the lack of a successor, which is increasingly seen as a risk to the bank. Ackermann renewed his contract two years ago when the bank failed to find a replacement, but is expected to step down before it ends in 2013. He also pledged to deal with a spate of lawsuits to hit the bank.