Deutsche Bank Year in Review: 2012
It has been a year of transition at Deutsche Bank. After ten years as CEO, Dr. Josef Ackermann handed the reins to the world’s largest bank by asset to Anshu Jain and Juergen Fitschen at the end of May. The new co-CEOs promise “culture change” and a campaign to rebuild public trust in Deutsche. But by the end of the year, it became clear that it would be difficult for the new leaders to “escape their past” as the bank slid into “a swamp of scandal” (in the words of Der Spiegel). {read more}
Should European Regulators Break Up Deutsche Bank?
Recently, Sandy Weill, former Citigroup Chairman and CEO and long-time advocate of “universal banking,” stunned the U.S. financial world when he urged the break-up of “too-big-to-fail” banks in order to prevent future taxpayer-funded bank bailouts. It appears the same sea-change may be emerging in Europe as regulators there consider structural reforms that could force Deutsche Bank and other large European banks to break up, or at least to create firewalls that could insulate their commercial banking operations from their comparatively higher leveraged investment banking units. {read more}
After Waugh, Who?
It has been more than five months since Deutsche Bank announced on February 27 that Seth Waugh is stepping down as CEO of Deutsche Bank Americas. In the meantime, a new management team led by co-CEOs Jürgen Fitschen has taken the reins at Deutsche, with the Management Board and Group Executive Committee filled with new regional heads (Europe ex Germany, Germany, UK, Asia-Pacific) — except for the Americas region. Why is the bank taking so long to find a successor to Waugh? {read more}
How Will Deutsche Bank Be Affected by the LIBOR Scandal? (Part II)
UPDATE, 7/23: Deutsche Welle reports (“Deutsche Bank to make provisions for steep Libor fine“): “Deutsche Bank’s management and supervisory board were discussing provisions of between $300 million (247 million euros) and $1 billion, according to Handelsblatt, which quoted sources in the sector.” —– “Anxiety currently reigns at Deutsche Bank.” Our earlier post outlined several LIBOR-related questions for Deutsche Bank and its co-CEO Anshu Jain. Here we raise three more areas of concern: {read more}
