According to several observers the chance of Axel Weber being appointed in a senior role by the Deutsche Bank has slimmed considerably. This has been mostly because of the news about the decision of the President of the Bundes bank. The President of the Bundes bank has taken a decision which has somewhat surprised everyone. The decision is to step down from his post early. The Deutsche Bank is the biggest bank in Germany in terms of assets. The bank was highly linked with Mr. Axel Weber from last week.

The well known central banker was a certain favorite for the post of European Central Bank’s President, but it has been learned that Mr. Weber has given up that aspiration. The Deutsche bank has been in the search for its next president as the tenure of the present President, Mr. Josef Ackermann, is about to end in the year of 2013.

There has already been an extension in the contract of Mr. Josef Ackermann as the bank failed to find a successor for him in time. The people who are close to this situation consider that it is most unlikely on the part of the bank to appoint somebody like an economist or a central banker as the Chief Executive Officer. It is considered by the people that the chief has to be someone who is well acquainted with the day to day banking activities.

But it is known that Mr. Ackermann has been closely involved in finding his successor and having great respect for Mr. Weber he might have envisaged Weber to play the senior role in the Deutsche Bank. According to the analysts the role played by Mr. Weber would be that of a representative and he would be working in collaboration with an insider who has good deal of experience like the head of the corporate & investment bank of Deutsche, Ms. Anshu Jain.