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| Deutsche Bank shares rise nearly 4% on boss resignations | |
| (about 5 hours later) | |
| Shares in Deutsche Bank ended the day nearly 4% higher as investors welcomed the resignations of its two co-chief executives. | |
| At one point in early trading the shares were up 7%. | |
| Juergen Fitschen and Anshu Jain resigned during an emergency meeting of the bank's supervisory board on Sunday. | Juergen Fitschen and Anshu Jain resigned during an emergency meeting of the bank's supervisory board on Sunday. |
| The bank has been hit by a series of scandals recently, including a $2.5bn (£1.7bn) fine for its part in rigging the Libor inter-bank lending rate. | The bank has been hit by a series of scandals recently, including a $2.5bn (£1.7bn) fine for its part in rigging the Libor inter-bank lending rate. |
| Mr Jain will be replaced by John Cryan, who will become sole chief executive when Mr Fitschen leaves in May 2016. | Mr Jain will be replaced by John Cryan, who will become sole chief executive when Mr Fitschen leaves in May 2016. |
| Deutsche Bank is also paying $55m (£35.7m) to settle civil charges for allegedly mis-stating financial reports. | Deutsche Bank is also paying $55m (£35.7m) to settle civil charges for allegedly mis-stating financial reports. |
| As well as legal and regulatory issues, the management changes follow a disappointing financial performance by the bank. | |
| Net income for the first three months of 2015 halved to €559m compared with the same period a year earlier. | Net income for the first three months of 2015 halved to €559m compared with the same period a year earlier. |
| This is despite revenue rising by almost a quarter to €10.4bn. | This is despite revenue rising by almost a quarter to €10.4bn. |