stock at a record low, a poor Image and uncertain future perspectives: the frustration of The shareholders at the annual General meeting of Deutsche Bank is large. Especially, Supervisory Board Chairman, Achleitner need to listen to a lot of criticism.
Black suitcase with the words “money laundering, instead of culture change,”
Outside in front of the Festhalle in Frankfurt, a protector of the climate and capitalism-critics with provocative posters demonstrated against the German Bank. So they protested with an open case of Money, to read: money laundering, instead of cultural change! Another activist asked, “Deutsche Bank – too big to Jail?” The anti-capitalist movement, Attac held banners with the Slogan “Deutsche Bank – the Dirt on the white vest – the carousel trade. Cum Ex. Coal-based electricity.” in the height. And the group “urgewald” asked the Bank, financing of coal mining and weapons shops to get out: “No war, No Warming. The conclusion of the war, and coal.”
“accomplice of the greatest disaster of mankind”
Inside in the time-honoured festival hall las the student and climate activist Luisa Neubauer, the German face of the movement “Fridays for Future”, Deutsche-Bank-top-of-the Levites. She accused the largest private German financial institution, to be due to the financing of coal and oil projects accomplice of the greatest disaster of mankind. Shareholders are not asked Neubauer to no longer remain silent.
Also, the investors exercised sharp criticism of the Top Management of Deutsche Bank. “It is sad and shocking what has happened to the German Bank,” complains a Fund Manager Alexandra Annecke Union Investment at the annual General meeting. Twelve years ago, the Deutsche Bank had been on a par with the US monetary institutions. Now JPMorgan is doing more than 20 Times as much profit as the Deutsche Bank and was on the stock 20 Times as much value. “The former flagship of the Institute is only a colossus with feet of clay.”
Deka: “horror movie with extra Length”
Particularly rich Fund Manager Andreas Thomae from the savings banks Fund company Deka expressed. “Last year we had compared the share price with the ride in a Ghost train. Now a horror movie is turned into extra-long”, he scolded.
The Board wants to relieve the Deka this time. With the Supervisory Board, Achleitner, the Fund company have lost the patience. Thomae announced to vote against the discharge of Achleitner. It could be at the end closely for the Austrians, who for seven years the control panel. In the past few weeks, major shareholder advisors such as Glass Lewis and ISS have advised their clients to relieve Achleitner.
DSW want. vacuum in Leadership
avoid Possibly there will be only a lesson As shareholder, protector of the DSW will again vote for the discharge of the management Board and the Supervisory Board. “We can afford no weakness, a lack of Austrian Art and certainly not”, said DSW-Vice-President and lawyer Klaus Nieding of the Austrians Achleitner with allusion to the government crisis in the Alpine Republic.
Further course information, to Deutsche Bank
Achleitner admits error in a
Supervisory Board boss Achleitner revealed on the day of reckoning combative. Despite heavy criticism, he wants to stay in office. He doesn’t have to have investors and customers in the lurch, says Achleitner. “At a monument to nothing, is to me the Welfare of the German Bank already.” A bit self-critical of the 62, showed-Year-old: “I’ve made in the past seven years error? Yes, of course I’ve done in the past seven years, error. I am the root of all Evil? No, of course I’m not.”
To the opening of the annual General meeting, Achleitner promised to shareholders, to accelerate the realignment of the Bank. “We need to rebuild faster and more radical,” he said on Thursday morning, in the Frankfurt Festhalle. If the German Bank does not grow from a merger – such as with Commerzbank was planned, “then we’ll do it organically,” he announced. In spite of all the difficulties, the German Bank was on the right path, he said.
Deutsche Bank CEO Christian Sewing and the Supervisory Board Paul Achleitner to the HV 2019
With a view to the end of April, ended talks with Commerzbank, Achleitner said to have no political side. “And this Board has, or I personally ever any pressure on the Board, this Fusion.”
Sewing announces tough cuts of
Chairman of the Board Christian Sewing was not closer to the bursting of the merger with Commerzbank. Instead, he announced a massive restructuring of the for years, the rest of investment banking. “We are tough,” said Sewing on the shareholders ‘ meeting. “We will accelerate the Transformation by aligning our Bank is consistently profitable and growing areas, which are relevant for our customers. And I stand by it. You can rely on”, he called out to thousands of shareholders in the Festhalle in Frankfurt.
Demonstration of the “religious for peace” in front of Deutsche Bank HV
The investment Bank is to make Sewings ideas, only such business, the profit of at least either sufficiently profitable or as a service for other areas of the business are important. As positive examples of the past year, acting Chairman of the Board, called the Advisory of corporate clients, the issue of securities, the currency platform, the trading of corporate bonds and commercial real estate financing in the United States. In other areas, the Management will analyze “very carefully and, in the future, just as disciplined and uncompromising, when the subject of cost,” announced Sewing. Also, the computer systems of the Bank to come to the test.
DWS core to the business
In Private and corporate customer business, sees the Manager, still a lot of potential, however, the division in terms of profitability was “better on the road than we many are,” stated Sewing. On the future of the Fund subsidiary, DWS, he was covered. The rumors about a merger of the asset management business, DWS and UBS, he commented. He asserted that “in the event of a merger of the DWS to the core business of the German Bank” will include.
investors do not seem to convince, the Statements of Sewing and Achleitner. The shares of Deutsche Bank fell on the day of the annual General meeting by more than three percent. With 6.35 euros, the title reached a new record low. Since the beginning of the year the rate is minus nine percent.
lunch magazine from the 23.05.2019
23.05.2019
in Spite of the charged atmosphere, this time represented less shareholders at the annual General meeting as in previous years. The presence is in this year only 34,85 per cent, in 2018, it was 42.6 percent.
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source: boerse.ard.de
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