Deutsche Bank suffers shareholder revolt at annual meeting

Deutsche Bank shareholders voiced their lack of confidence in the company's leadership during its annual meeting yesterday, with 39% voting against approving the performance of the group's co-chief executives.

This compared to last year when the executives' performance was approved by 89% of investors in attendance at its annual meeting. Investors are believed to be unhappy about a number of issues including Deutsche's profit growth, the level of regulatory fines, and its restructuring plans. One of the most vocal critics has been Hermes Investment Management, which holds almost 0.5% in the company through its Hermes EOS arm representing institutional clients. Prior to the meeting, it sent out a circular explaining its vote was a formalisation of its concerns over the management of the b...