The new chairman of the supervisory board has many strengths and two weaknesses

Alexander Wynaendts

The candidate has two weaknesses to complain about.

(Photo: Thorsten Jochim for Handelsblatt)

“The most important import from Holland since Rudi Carrell,” joked a Frankfurt banker at the weekend. In fact, Deutsche Bank struck gold in the long search for a new head of the supervisory board in the Netherlands. Alexander Wynaendts, the ex-boss of the insurer Aegon, had hardly anyone in the Frankfurt financial scene on the candidate list to succeed Paul Achleitner. But that doesn’t have to be bad.

Wynaendts has many qualities that Deutsche Bank needs: He knows a lot about investment banking and the private customer business, he has led a global financial group for many years, and he has gained experience as a crisis manager, which is never wrong when it comes to Deutsche Bank leaves.

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