It has been unveiled through a report recently that two of the board members of Deutsche Bank AG DB -0.20% would have to leave the bank in May along with a third person i. e. Chief Executive Josef Ackermann.

According to the findings of the report, the plan has been proposed to the supervisory board of the bank Investment-banking chief Anshu Jain and Germany Head Juergen Fitschen on Friday. It is being said that they would be taking over the position of co-CEOs later in the month of May.

It is being said by the two that all duties would be reshuffled and three successors would also be introduced for Lamberti and Baenziger, who would be from Jain's investment banking division. Both the co-CEOs have revealed that the bank's legal risks and human resources will be looked by Stephan Leithner, who is an Austrian and co-head of investment banking coverage and advisory.

Also, the technology and operations aspects would be handled by Henry Ritchotte, an Irish-American who has served as chief operating officer of the investment bank. Justifying their decision, they said, "By expanding the group executive committee, we are bringing together a broad team of leaders from our businesses, regions and infrastructure functions at one shared table".