Deutsche Bank chief executive officer John Cryan finally got around to meeting with the largest shareholder of his under fire bank.
Cryan is reported to have met with the Chinese conglomerate HNA Group (HNA) last week in Frankfurt, according to The Wall Street Journal (behind paywall).
The Deutsche Bank boss has been under immense pressure from several key shareholders including those from China and Qatar, who along with other shareholders are agitated over Deutsche's weak results. This despite the fact that Cryan has settled several major regulatory probes and is in the midst of a wide-ranging turnaround.
Focus on Clients and Regulators
HNA, which includes aviation, real estate, financial services, tourism and logistics in its stable, increased its stake in Germany's largest bank to 9.92 percent earlier this year.
It was widely reported that Deutsche chairman Paul Achleitner had registered his displeasure with Cryan for repeatedly ducking meetings with HNA. The Deutsche CEO is said to have been focusing his time on meeting with clients and regulators.
