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Frankfurt . It is not that the Deutsche Bank in crisis has no new strategy to finally get out of crisis mode and gain stability. But apparently, it does not really work with implementation.
For this reason, she is now receiving help from her major shareholder, Cerberus. More specifically, the advisory arm of US financial investors will help the bank reduce costs and generate new sources of revenue.
"The recognized expertise of Cerberus Operations Advisory Company will help us find attractive returns for our shareholders and investors.", Said a spokesman for the bank on Tuesday. The board of directors is Matt Zames, who heads the board of directors of the big US bank JP Morgan until last summer, according to FAZ news, the consultative mandate should have been decided before. the annual general meeting of May In addition, Zames would have been planned as a supervisory board.
The Rosskur
The new head of the German bank Christian Sewing has prescribed a Rosskur at the institute.It intends to focus more on Germany and Europe and has reduced many vacant positions in investment banking recently stagnant, including in the USA and London
. The hardest hit shares in recent months were listed on Tuesday at 9.78 euros
Cerberus joined Deutsche Bank in the fall of 2017 with 3%. At that time, the stock was still around 15 euros. Also at the German Commerzbank Cerberus is involved: In the summer of 2017, Americans had reported a five percent share in the house of money. In Austria, the US financial investor is behind BAWAG
During the period in which Cerberus advises Deutsche Bank, it is unlikely that the investor will do business. (APA / red.)
("Die Presse", printed edition, 11.07.2018)
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