Who is Josef Ackermann
Josef Ackermann is a Swiss banker who was CEO and President of Deutsche Bank. Since 2020, he has been President of the Bank of Cyprus. He was also a member of the Group of Thirty (G30), a group of international economists and financiers based in Washington, D.C. He sits on the executive committee of the Bilderberg group.
BREAKDOWN Josef Ackermann
Born in Walenstadt, Canton of St. Gallen, Switzerland in 1948, Josef Ackermann attended the University of St. Gallen, where he studied economics and social sciences. After completing his undergraduate studies, Ackermann remained at the University of St. Gallen as a research assistant in the Department of Economics; he finally got his doctorate. in economy. Very early on, he was encouraged to pursue academic and military careers, but he began his career as a corporate banker at Credit Suisse in 1977.
Ackermann was CEO of Deutsche Bank from 2002 to 2020. As CEO, he presented Deutsche Bank with a new shareholder-focused management style, helped the company expand internationally and focus more on investment banking. He earned 9.4 million euros in 2009 and 8.8 million euros in 2020, according to Financial Times Deutschland. Ackermann received bonuses of 8.2 million euros and 7.1 million euros in these two years respectively. Faced with sanctions imposed by the US Department of Justice in 2020, Deutsche Bank is said to have attempted to recover tens of millions of euros in bonuses paid to Ackermann and five other former CEOs.
Other positions held by Ackermann
Ackermann has served on the boards of Bayer, Deutsche Lufthansa, Linde, Mannesmann, Siemens, Zurich Financial Services and Royal Dutch Shell. He was also a visiting professor of finance at the London School of Economics and visiting professor at the Johann Wolfgang Goethe University. He notably held the following positions:
- Second Vice President of Siemens AG
Shell non-executive director
- Chairman of the Board of the St. Gallen Foundation for International Studies
- President of the Board of Patrons of the Institute for Corporate Culture Affairs
- President of the Board of Directors of the Institute of International Finance
- Chairman of the Board of the World Economic Forum
- Participating in Bilderberg meetings in 2020, 2020, 2020, 2020 and 2020
- Non-executive director of Vodafone from 2000 to 2002