Deutsche Bank's Former CEO Rolf Breuer Passes Away

Breuer Died at 86, Surrounded by Family

Former Executive Oversaw Bank's Acquisition of Bankers Trust

Rolf Breuer, the former CEO and Chairman of Deutsche Bank AG, passed away on Wednesday at the age of 86. Breuer died peacefully in the presence of his family, the bank announced in Frankfurt.

Breuer served as CEO of Deutsche Bank from 1997 to 2002, and as Chairman from 2002 to 2006. During his tenure, he oversaw the bank's acquisition of Bankers Trust in 1999, a move that significantly expanded Deutsche Bank's presence in the United States.

Breuer was a controversial figure, known for his outspoken views on banking and politics. He was a vocal critic of the banking industry's excessive risk-taking, and he warned that the financial crisis of 2008 could have been avoided if banks had been more prudent.

Breuer's death has been met with sadness and condolences from the banking community. Deutsche Bank CEO Christian Sewing said in a statement: "Rolf Breuer was a visionary leader who made significant contributions to Deutsche Bank. He will be deeply missed."