As Deutsche Bank progresses with the implementation of 'Strategy 2020' under CEO John Cryan, it's doing more than hiking salaries and cutting headcount in the back office. The German firm has also engaged the services of a personal branding specialist to boost morale and improve the status of its executive team internally.
Frankfurt-based stylist and presentation expert, Logan Groos, has been seen visiting the German bank's Frankfurt headquarters according to local German media. Groos has earned a reputation as a 'personal branding turnaround expert' in the German-speaking world after working with Matthias Müller, chief executive of VW, and Falco, the Austrian singer popular with international audiences in the 1980s.
At Deutsche, Groos is understood to be focusing his attention on John Cryan, the mild-mannered Yorkshire man who replaced Anshu Jain as CEO last June. Previous reports suggested that Cryan, who carries a battered briefcase and has said that he doesn't understand why Deutsche is paying him a bonus, is known internally as 'Mr Grumpy.' As the German bank moves deeper into the implementation phase of Strategy 2020, Groos has reportedly been charged with facilitating Cryan's projection of a more engaged persona.
The initiative known is internally as 'Project Acorn.'
Sources close to Groos said the effects of his intervention are likely to become apparent by the end of this month, when Cryan announces Deutsche's second quarter results on April 28th.
"We've been introducing John to some really beautiful fabrics," said one Frankfurt-based style specialist. "A lot of silks, a lot of colour. I think you're going to notice some big changes."
Cryan's reinvention is also understood to encompass the development of a more primal and assertive out-of-office self. "People in banking admire the projection of male power," said the stylist. "It's about being the alpha, and really embodying that alpha lifestyle."
While Cryan's in-office makeover is expected to result in his appearance in the sorts of Hugo Boss suits, Ferragamo Loafers, and Hermès ties reminiscent of Jain, German media is also to be seeded with photos of Cryan that might earn the respect of Vladimir Putin. The Deutsche CEO is understood to have purchased a Harley Davidson Sportster motorcycle, to be growing his hair, and to be channeling Mars Bonfire - former member of the band Steppenwolf and singer of Born to Be Wild.
"When you leverage the primal male, it becomes far easier to execute strategy," says the stylist, speaking off the record. "John is now on that alpha journey."
A Deutsche Bank spokesperson confirmed that they enjoyed this April Fool. Japes - enjoy the weekend.