Qatari Investor Rallies Behind Deutsche Bank Chairman

The Qatari investor that owns the second-biggest stake in Deutsche Bank plans to issue a rare public statement supporting Paul Achleitner as the chairman of Germany’s biggest bank, despite a sharp fall in the value of its shares. The announcement could come as early as Wednesday from Paramount Services Holdings, one of the vehicles through which Sheikh Hamad Bin Jassim Bin Jaber Al Thani took a 6.1 per cent stake in Deutsche in 2014. It will provided a much-needed boost for Mr Achleitner, who has been chairman of Deutsche’s supervisory board for almost four years. He is facing pressure from investors over the bank’s weak performance — its shares have fallen more than 50 per cent in the past year — amid speculation that he may not win a second term when his contract expires next year.