Deutsche Bank chief executive John Cryan has sent a memo to staff saying he is "absolutely committed" to the bank and the turnaround plan he has been leading, as sources say the bank has stepped up efforts to find his successor.

His statement comes a day after widespread reports circulated that the bank has hired a headhunter to help it to find a successor to Cryan, with internal and external candidates said to be under consideration. The board has come under pressure from major shareholders who are unhappy with the pace of Cryan's turnaround plan.