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.