[ by Larry Goldfarb ] Josef Ackermann, one of the most power CEO's in Deutsche Bank history and arguably its most successful chief executive, is completing his tenure in May, though not necessarily as he would have liked - he's limping to the finish rather than departing at the top of his game. Mr. Ackermann attained the Top spot at the German banking behemoth in 1998 following a successful career as CEO of banking activities at Credit Suisse.  His appointment by the Banks Board as Deutsche Bank's next CEO was met with surprise due to the fact that he was the first non-German to attain that position.  And, he he had to follow a tough act, succeeding the charismatic Rolf Breuer. His time at the bank was met with significant challenges and success.  He was the primary architect of Angela Merkel’s successful fiscal strategy to save the German Banking system and raise Germany’s profile during the banking collapse of 2008. During the global banking crisis in 2008, Mr. Ackermann led negotiations with the German government about a bailout for the country's banking system, while ensuring that his own bank, Deutsche Bank, didn't need state aid.  He went on to become Chairman of the Institute of International Finance, a lobby group for major international banks, and helped negotiate the restructuring of Greece's bond debts.  He also brilliantly integrated a number of acquisitions, including Bankers Trust. Beginning of the End. In 2010, his contract was extended through 2013, at which point he would plan on retiring.  However, these last few years have not been kind to Mr. Ackermann, encountering a series of setbacks, public mishaps and, finally, failure to win the bank's chairmanship.  These incidences are most unfortunate - particularly for their timing - as they threatened Mr. Ackermann's great legacy and reputation as a leading figure during one of modern finance's most turbulent periods. It wasn't supposed to end this way, and while Mr. Ackermann and history can look back at his many achievements, his final calling at Deutsche Bank - to leave Deutsche Bank in an unprecedented position of strength and safely, as well as to have hand-picked his own successor.  But the rocky transition for the 64-year-old Swiss national, who succeeded in raising Deutsche Bank to the heights of global investment banking, will depart with with some regrets.  This had the effect of making Mr. Ackermann look, in some respects, like a lame duck, according to many insiders and observers of Germany's banking industry. Politics of Succession Also Hurt Mr. Ackermann.  Mr. Ackermann attempted to champion an outsider as his successor - Axel Weber, who was the former president of Germany's central bank.  However, when Mr. Weber was appointed Chairman at UBS AG in a surprise move, both Deutsche Bank and Mr. Ackermann were left in a uncomfortable position. Fortunately, going forward, real power at Deutsche Bank appears to be turning to investment-banking head Anshu Jain.  On 6/1/12, Mr. Jain is set to begin his term as co-CEO with Jürgen Fitschen, head of the German business. That was bad enough, but Mr. Ackerman further angered investors by publicly expressing doubts about the leadership quality of potential internal successors also on the managing board - suggesting in an interview with a German newspaper last year that they lacked "character."  It was then that the bank's supervisory board, the nearest equivalent at German companies to a U.S. board of directors, chose Messrs. Jain and Fitschen. They further disgraced Mr. Ackermann by passing him over as Supervisory Board Chairman.  In November, Deutsche Bank instead nominated Paul Achleitner, finance chief of insurer Allianz SE.  To add to the problems, the bank missed its target of making a record €10 billion ($13.1 billion) in pretax profit in 2011—something Mr. Ackermann had declared his final management goal—a shortfall the bank blamed on the flare-up of the euro-zone debt crisis in the second half of the year.  He said in October that the goal wasn't achievable in such volatile markets, and the bank finished the year with €5.4 billion in pretax income. For further details, go to:  [WSJournal, 4/18/2012] and [NYTimes, 6/11/2011].