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.
The biggest Wall Street banks have spent more than $93 billion dealing with the fallout from the housing bust, settling disputes with the U.S. government and homeowners. Now they must face the Germans.
European regulators plan to detail three scenarios when they publish the results of their stress tests on the region’s banks this week, according to a document by the Committee of European Banking Supervisors .
Germany’s biggest banks and insurers, including Deutsche Bank AG and Allianz SE, signaled a willingness to roll over maturing Greek debt if governments offer guarantees and other European lenders also participate, according to five people with knowledge of the situation.
Deutsche Bank AG co-Chief Executive Officers Anshu Jain and Juergen Fitschen, less than four months after taking over from Josef Ackermann, may be preparing the largest revamp at Europe’s biggest bank in eight years.