Deutsche Bank chair against strategy change at investment bank: FT

BERLIN - Deutsche Bank Chairman Paul Achleitner told the Financial Times that Germany’s largest lender did not need to fundamentally overhaul its investment bank after attempts to create a German champion with Commerzbank failed.

Achleitner defended Deutsche Bank’s strategy after merger talks with Commerzbank failed due to the risks of doing a deal, restructuring costs and capital demands. The idea of merging with Commerzbank has now been abandoned “once and for all” Achleitner said, adding that Deutsche Bank is aware that Commerzbank could be taken over by a foreign lender.

Earnings released on Friday showed net revenue at Deutsche’s sprawling global investment bank, which accounts for more than half the German bank’s overall revenue and which relies heavily on its bond trading earnings, fell 13 percent to 3.3 billion euros in the first quarter.

Maybe he is right. In 2008 he was one of the leading figures in New York, solving the financial crisis.

Russia would be pissed if you did

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UBS, Deutsche Bank in asset management merger talks: FTThe asset management arms of Deutsche Bank AG and Swiss bank UBS Group AG are in... So with a potential bidding war for DWS - what will Deutsche Bank do with the cash ? Buy back 40% of their own shares ?
Source: Reuters - 🏆 2. / 97 Read more »

German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank endDeutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the... Which airline is that?
Source: Reuters - 🏆 2. / 97 Read more »

Deutsche Bank and Commerzbank merger talks collapseMerger talks between Germany's top two lenders, Deutsche Bank and Commerzbank, have ended in failure.
Source: CNBC - 🏆 12. / 72 Read more »

Deutsche Bank and Commerzbank call off merger talksDiscussions between Germany’s two biggest listed banks end in failure Deutsche Bank is a toxic liability heading for bankruptcy without a “white knight!” But nobody is interested or crazy enough to assume unlimited legal liability of its past endeavours!
Source: TheEconomist - 🏆 6. / 92 Read more »

Deutsche Bank earnings: 201 million euros for Q1 net profit, up 67% year-on-year
Source: CNBC - 🏆 12. / 72 Read more »

European markets seen mixed as investors monitor earnings; Deutsche Bank beats expectationsEuropean stocks are set to open mixed Friday morning, as market participants prepared for another flurry of corporate earnings.
Source: CNBC - 🏆 12. / 72 Read more »