Deutsche Bank AG CEO Josef Ackermann has rejected Citigroup’s offer to make him CEO, Bloomberg reports.
A source told Bloomberg that Ackermann had been approached around a fortnight ago to take on the role of CEO at the US’ largest bank. The alleged offer was made regardless of the fact that Vikram Pandit, the head of Citigroup’s alternative investments unit, had been tipped to get the job.
However, the unnamed source claims that Ackerman declined the offer and will remain at Deutsche Bank, until his contract expires in 2010.
This appears to be the latest development in Citigroup’s ongoing hunt for a replacement for Charles Prince III, who resigned after posting the bank’s first loss in 17 years, a situation not helped by the subsequent $11 billion in writedowns.