Former Deutsche Financial institution CEO and chair Hilmar Kopper dies at 86 By Reuters

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© Reuters. FILE PHOTO: The former CEO of Deutsche Bank AG Hilmar Kopper gesticulates in Frankfurt, February 8, 2002. REUTERS / Ralph Orlowski / File photo

From Tom Sims

FRANKFURT (Reuters) – Deutsche Bank announced on Friday that its former CEO Hilmar Kopper had died at the age of 86.

His death was due to a brief serious illness, the bank said.

Kopper oversaw the country’s largest lender at a time of rapid global expansion. After the murder of Alfred Herrhausen in 1989, he took over the helm as CEO until 1997. From 1997 to 2002 he was chairman.

Deutsche Bank (DE 🙂 has lost one of its most formative personalities, “said chairman Paul Achleitner.

Deutsche Bank, founded in 1870, went on a worldwide shopping spree during Kopper’s reign, buying the British Morgan Grenfell in 1990 and the US Bankers Trust in 1998.

He also accompanied the bank’s move to the twin towers, which house 2,000 employees and shape the skyline of Frankfurt, Germany’s financial metropolis.

More recently, after years of losses and heavy fines for money laundering and its role in the US mortgage crisis, Deutsche Bank has made cuts to return to profitability. It left some companies and cut its investment bank.

But the German still has more than 84,000 employees and 1,805 branches worldwide, from New York to London, Hong Kong and Sydney.

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