Deutsche Bank made the announcement on Monday evening after a special meeting of the supervisory board ahead of its regular meeting on Tuesday, at which the bank will announce its quarterly results.
Speculation is growing that Anshu Jain may take over as the co-head of Deutsche Bank.
Anshuman Jain became the co-head of Deutsche Bank in 2012 along with Juergen Fitschen.
Anshu Jain spent 20 years building Deutsche Bank.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
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