Biographical Summary

A Swiss native who worked his way up to become "the most powerful man in the German financial industry," Ackermann raised his profile in 2007 and 2008 on the global stage with his emergence as an "emissary" and "elder statesman" in the global financial crisis.Taking meetings in Washington and New York and consulting with Alan Greenspan, he took an unpopular position on the issue, conceding that regulators would need to impose new rules on financial institutions. "It was the right thing to do," he said. Ackermann will step down as CEO in 2012 but remain at the bank in a senior role. The plan is for Ackermann to replace Clemens Börsig, its current chairman.