Addressing the fact that there were no women on Deutsche Bank's board, the 63-year-old Swiss banker explained that he and other senior managers had embarked on a project "where we bring women together in groups and provide training and coaching so they become involved in projects and take part in top conferences". He expressed regret of the fact that they had not been able to find a woman for the group executive committee, which reports to the top executive board, adding: "But I hope it will become more colourful and prettier one day."
Ackermann stated that he believed businesses would benefit from having more women in senior positions but highlighted that he was opposed to quotas; as is the German chancellor, Angela Merkel. Women represent 44.3% of all Deutsche Bank staff but only 16.1% of its senior managers.
Ackermann's comments became the subject of furious debate in Germany as a Deutsche Bank spokesman defended his comments, saying they were taken out of context and that he was "a gentleman from the old school".
