FRANKFURT Aug 25 Deutsche Bank’s
supervisory board will gather for an off-site strategy meeting
in Bavaria on September 10 to hear new Chief Executive John
Cryan’s strategy plans for Germany’s largest lender, two sources
familiar with the matter said on Tuesday.

Deutsche Bank declined to comment.

Cryan, who took over as Co-CEO on July 1 and will become
sole CEO in May, has been tasked with finalising a strategic
overhaul to reduce complexity and take out costs, a feat which
his predecessors Anshu Jain and Juergen Fitschen struggled to
achieve.

The supervisory board will also scrutinise Cryan’s ideas
about senior appointments, particularly to the bank’s
influential 19-member Group Executive Committee, the two sources
said.

“We want to hear what he is planning. We are entering the
critical phase now,” one of the sources, who declined to be
named, said.

Cryan had revealed very little about his plans by the time
of the last supervisory board meeting in New York at the end of
July, the second source familiar with the matter said.

“It’s about time for Cryan to show his hand,” the second
source said.

The off-site meeting takes place from September 10 to 12,
at Golf Hotel Margarethenhof near Tegernsee, in Bavaria, the
sources said. It’s not yet clear whether Deutsche Bank’s entire
management board will attend the meeting, although the entire
supervisory board will be present, the sources said.

Paul Achleitner, who heads the supervisory board is also
expected to present a replacement for Cryan on the supervisory
board, the sources said. This new member is likely to take over
Cryan’s prior role as chairman of the audit committee, one of
the sources added.

(Reporting by Kathrin Jones; Writing by Edward Taylor; Editing
by Jonathan Gould)