Deutsche Bank ’s management faces mounting opposition to a new restructuring plan ahead of the German lender’s annual general meeting later this month, with the two biggest shareholder advisory firms recommending investors not back co-chief executives Anshu Jain and Jürgen Fitschen and their fellow executive board members due to a large number of costly litigation issues.

Institutional Shareholder Services in a note to clients urged them to vote against approving the actions of the giant German lender's management, while Glass Lewis recommends abstaining from voting on the actions of the management and the supervisory board.