India-born Mr Anshu Jain may be a favourite of many shareholders in the search for the next chief of Deutsche Bank, but the incumbent, Mr Josef Ackermann, does not seem to favour him, the Financial Times reported.
Mr Jain is head of investment banking, the most profitable business of the Germany-based banking giant.
Attributing to sources, the report said, “Ackermann appears increasingly opposed to the idea that the next CEO should be Jain — the favourite of many shareholders.”
The daily said the senior ranks of Deutsche Bank are on the verge of “open warfare” as the process of finding a successor to Mr Ackermann “degenerates into acrimony”.
The German bank has not yet appointed a successor to Mr Ackermann, whose contract runs until 2013.