Greece is a “failed state” and the population and business community don’t see a path out of the crisis, said Juergen Fitschen, who takes over as Deutsche Bank AG’s co-chief executive officer next week.
The man who is providing Deutsche Bank AG with a 2.1 billion-euro ($2.9 billion) cash infusion, and a vote of confidence, held talks with banks about getting a loan to finance the investment and to hedge it.
Deutsche Bank AG is betting its 8 billion-euro ($11 billion) capital increase will help it grab market share in fixed income as a slump in trading prompts competitors including Barclays Plc to retreat.
Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen, who is under investigation as part of a probe into tax evasion in the carbon market, said he received expressions of support after German police raided the lender last month.
Deutsche Bank AG, Germany’s biggest bank, warned employees in an internal video that their behavior in conversations and e-mails is “falling way short” of its standards as the company faces regulatory scrutiny.