The City tells Deutsche Bank: Hard work on costs is not over yet June 8, 2015 Shares in Deutsche Bank climbed sharply yesterday after its co-chief executives agreed to stand down over the weekend, to be replaced with a turnaround veteran. But analysts and investors said that the hard work still lies ahead of the bank, which will have to prove to investors that it can cut costs and grow [...]
Deutsche Bank’s share price ends day 4pc higher as boss resignations continue to please June 8, 2015 Yesterday's resignation by Deutsche Bank co-chiefs Juergen Fitschen and Anshu Jain is still going down very well with investors. This morning, shares rocketed seven per cent in value, and have continued to do well throughout the day. When markets closed, they were 3.57 per cent higher at €28.60. Read more: As Deutsche Bank share [...]
Deutsche Bank bosses Anshu Jain and Jurgen Fitschen bow to pressure and quit June 7, 2015 Deutsche’s co-chief executives quit the global banking giant yesterday, bowing to mounting legal wranglings and shareholder pressure. Indian-born Anshu Jain, 52, will step down at the end of this month and co-chief executive Jurgen Fitschen, 66, will leave next May. British banker John Cryan, former UBS finance chief and current Deutsche board member, will become [...]
Deutsche Bank co-CEOs Anshu Jain and Juergen Fitschen resign, John Cryan to step up as replacement June 7, 2015 The co-chiefs of Deutsche Bank are resigning amid increasing pressure from investors over their management of a series of problems to have beset the bank. The German bank was hit with a £1.7bn fine over Libor manipulation in April, which co-CEO Anshu Jain took ultimate responsibility for, while fellow co-CEO Juergen Fitschen is embroiled in a legal [...]
Deutsche Bank eyes FinTech startups with innovation labs in London, Berlin and Silicon Valley June 4, 2015 Deutsche Bank is the latest big lender to turn to the startup world for business innovation, eyeing FinTech startups to help kickstart its €1bn (£735m) digital strategy with the opening of three new innovation labs in Europe and the US. The bank will partner with HCL, Microsoft and IBM to open centres in London, Berlin and Silicon [...]
Banks in scramble for Barclays’ coveted broking ticket as Deutsche and Credit Suisse invited to re-pitch May 27, 2015 Barclays, the international London-based bank led by Antony Jenkins, has decided to put its broking mandate up for review after four years. The group is currently served by Deutsche and Credit Suisse as joint brokers. A source close to the bank, which is valued at around £45bn, said yesterday the decision to look for new [...]
The Brexit effect begins: Deutsche Bank forms working group to consider impact of UK leaving the EU May 19, 2015 Deutsche Bank is considering pulling chunks of its operations from the UK in the event of a Brexit, ahead of the EU referendum committed to by the Conservatives during the General Election. The German lender has reportedly put together a working group comprising execs from its risk, strategy, UK management and research teams, to [...]
Deutsche Bank share price falls as pressure rises on bosses in wake of Libor rigging fines April 28, 2015 Deutsche Bank’s share price fell again yesterday as investors failed to warm to the German lender’s latest strategic plan. The stock has fallen eight per cent since the bank was fined £1.7bn last Thursday for attempting to manipulate Libor – the latest in string of problems for the bank, resulting in mounting pressure on [...]
Deutsche Bank’s Anshu Jain takes responsibility for Libor rigging scandal but won’t quit April 27, 2015 One of Deutsche Bank’s co-chief executives yesterday said he takes responsibility for the Libor fiddling that took place in London on his watch. But Anshu Jain said that he will not resign. The bank has disciplined or fired everyone who it believes is responsible, and has been told to sack another seven staff identified by [...]
Deutsche Bank profits cut in half by litigation costs April 27, 2015 DEUTSCHE Bank’s profits were slashed in half by soaring litigation costs in the first quarter, the lender announced yesterday, after it settled a £1.7bn Libor fine with regulators on Thursday. The German investment bank recorded a strong rise in revenues, joining the industry-wide growth in trading income, but that was more than outweighed by the [...]