Best Global bank 2011: Deutsche’s Ackermann confounds his critics …again

For almost 10 years Josef Ackermann has regularly proved his critics wrong. His latest retort has been to rebalance Deutsche Bank's business mix and maintain returns within a much-changed investment bank. But can he meet the aggressive new targets he has set?

Awards for Excellence 2011

JOSEF ACKERMANN PAUSES, a slight smile spreading across his face. “People ask me why I make such firm commitments to achieve specific goals,” he says. “My answer is it gives transparency to the market, it rallies the troops behind a target and, if you achieve it, you earn a great deal of respect.”

What Ackermann does not say is that making commitments gives his critics something to aim at. But what his critics don’t get, and what he does, is that when he sets himself a goal, he usually achieves it.

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