By Jonathan Davies

Deutsche Bank saw it shares rise 8% in early trading today (Monday) after its co-chief executives announced that they will step down.

Anshu Jain announced Juergen Fitschen their decision just weeks after a major reform plan was met with less than enthusiastic response from investors.

Deutsche Bank has been hit with huge fines for its involvement in the Libor scandal, in which Deutsche Bank was one of a several banks to be manipulating key interest rates.

Mr Fitschen will remain in place until the company's annual general meeting in May 2016, but John Cryan will replace Anshu Jain from 30 June.