Banks – Hell rushes to the rescue – business

New York-based financial investor Cerberus now advises the Deutsche Bank Board of Directors. The company is also the fourth largest single shareholder of Frankfurt's troubled financial institution.

Various investors from New York Cerberus in the low-income German banking sector circulate, none of which is really convincing. The simplest is: Cerberus believes that there is still a lot of money to be made in this country with investments in financial institutions. Until now, it will take time. Last summer, from the hellhound name of Greek mythology with just over five percent to Commerzbank, she will soon be part of HSH Nordbank. Since the fall, she is with just over three percent of Deutsche Bank's fourth largest shareholder.

In the future, Cerberus may also question the extent to which participation in the largest German financial institution pays off. The bank confirmed Tuesday a Wall Street Journal report according to which a subsidiary of Cerberus advises the board of directors of Christian Sewing in implementing the strategy. The contract had negotiated even his predecessor John Cryan. He had to leave his post in April after failing to achieve several cost and income goals and lost patience with him. The latter should no longer arrive at Sewing, he accepted the preparations with thanks and brought the big investor as a consultant in the house. Matt Zames is head of the advisory team until the summer of 2017 on the board of directors of Wall Street's largest bank JP Morgan and since June serving at Cerberus [19659004] Deutsche Bank's official statement is limited to: Operations Advisory Company will help us create attractive returns for our shareholders and investors. "Cerberus exclusively advises the board of directors and oversees the planned economies, and compared to the competition, Deutsche Bank has costs that are far too high, at more than 90 cents for one euro in return. the bank have shrunk more and more, both being mutually conditional.Sewing has already prepared the shareholders for low profits in the second quarter.Cerberus had come in at a price of about 15 €, now note the papers of Deutsche Bank below € 10. Cerberus can not negotiate the stock during the advisory mandate.