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Deutsche Bank: Co-CEOs Anshu Jain and Juergen Fitschen to step down, John Cryan to take over

  • FILE - In this April 27, 2015 file phtoo Co-CEOs of Deutsche Bank Anshu Jain, right, and Juergen Fitschen talk to each other during a press conference about the further strategies of the bank in Frankfurt, Germany. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign.  John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016. (AP Photo/Michael Probst)

    FILE - In this April 27, 2015 file phtoo Co-CEOs of Deutsche Bank Anshu Jain, right, and Juergen Fitschen talk to each other during a press conference about the further strategies of the bank in Frankfurt, Germany. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign. John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016. (AP Photo/Michael Probst)  (The Associated Press)

  • FILE - In this May 21, 2015 file photo Co-CEOs of Deutsche Bank Anshu Jain, left, and Juergen Fitschen stand together prior to the annual shareholders meeting in Frankfurt, Germany. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign.  John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016.  (AP Photo/Michael Probst)

    FILE - In this May 21, 2015 file photo Co-CEOs of Deutsche Bank Anshu Jain, left, and Juergen Fitschen stand together prior to the annual shareholders meeting in Frankfurt, Germany. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign. John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016. (AP Photo/Michael Probst)  (The Associated Press)

  • FILE - In this Feb. 10, 2009 file photo John Cryan, then Chief Financial Officer of the UBS, holds files during a news conference in Zurich, Switzerland. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign as Co-CEOs.  John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016. (Steffen Schmidt/Keystone via AP)

    FILE - In this Feb. 10, 2009 file photo John Cryan, then Chief Financial Officer of the UBS, holds files during a news conference in Zurich, Switzerland. Deutsche Bank said Sunday, June 7, 2015 that Jain and Fitschen will resign as Co-CEOs. John Cryan will succeed Jain in July 2015 and will become the sole CEO in May 2016. (Steffen Schmidt/Keystone via AP)  (The Associated Press)

Germany's biggest bank, Deutsche Bank, says co-CEOs Anshu Jain and Juergen Fitschen will step down.

Jain and Fitschen became joint chief executives of the bank in 2012, succeeding Josef Ackermann. Deutsche Bank said Sunday that Jain will step down June 30 and Fitschen in May 2016.

It said that John Cryan, currently a member of the bank's supervisory board, will become co-CEO in July and take sole control when Fitschen leaves.

Deutsche Bank didn't give a reason for the switch.