Deutsche Bank AG, continental Europe’s biggest bank, is asking investors to replace three non- bankers supervising its executives with finance and legal experts after litigation-related costs eroded profit last year.
Twelve days into his job as co- chief executive officer of Deutsche Bank AG, Anshu Jain stood beside Germany’s finance minister and in front of video images of lush forests and rolling rivers as hundreds of businessmen sang the national anthem.
Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen said German lenders need to win the country’s “pride” as he lobbies policy makers to reconsider plans to subject banks to stricter regulation.
Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen clashed with German Finance Minister Wolfgang Schaeuble over whether European draft rules that limit bonuses will hamper banks’ ability to compete in some markets.
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.
Citigroup Inc.’s European chief, Jim Cowles, said so-called U.S. universal banks like his own are gaining market share in investment banking because they can absorb the rising cost of regulation better than European peers.
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.