FRANKFURT, Germany—At least three major investors in Deutsche Bank want Chairman Paul Achleitner to step down early amid discontent with the bank’s turnaround, two people with knowledge of the matter said on May 21.

A woman with an umbrella passes a Deutsche Bank branch in Frankfurt am Main, on January 29, 2013. The Chinese investment in the German bank hasn't helped and a merger with a U.S. bank could be a better solution. Thomas Lohnes/Getty Images
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