DEFINITION of 'Josef Ackermann'
Born in Switzerland in 1948, Ackermann earned his Ph.D. from Saint Gallen University and became chairman and CEO of Deutsche Bank. Early on, he was encouraged to go into both academic and military careers, but he began his career as a corporate banker with Credit Suisse in 1977. Ackermann introduced to Deutsche Bank a new shareholder-focused management style, helped the company expand internationally and increased its focus on investment banking.
BREAKING DOWN 'Josef Ackermann'
Ackermann has served on the boards of Bayer, Deutsche Lufthansa, Linde, Mannesman, Siemens, Zurich Financial Services and Royal Dutch Shell. He has also been a visiting professor at the London School of Economics and Johann Wolfgang Goethe University.