Germany's largest lender Deutsche Bank purged its leadership on Sunday, appointing Briton John Cryan as chief executive to replace Anshu Jain just two weeks after Jain was given more power to reorganize the bank. Deutsche Bank has struggled to restore an image tarnished by a raft of regulatory and legal problems which include probes into alleged manipulation of benchmark interest rates, mis-selling of derivatives, tax evasion and money laundering. The German lender presented a radical management shake-up on May 21 in a last ditch attempt to restore confidence in its management, but some investors demanded more changes.
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