The US voting advisory firm Glass Lewis has backed a campaign, instigated by the UK pension fund manager Hermes, to register a protest against the Deutsche Bank board's handling of succession issues.

The shareholder groups will raise the concerns at the bank's annual general meeting on May 31. Hermes, together with German governance watchdogs VIP, have filed "counter resolutions" at the AGM, arguing that shareholders should withhold a usually routine confidence vote in the bank's board.