That he would only be stuck for a year after he took office in the midst of merger talks with Commerzbank, would not have presented Christian Sewing. From real Conviction of 48-year-old CEO of Deutsche Bank, has pushed the talks with his counterpart, Martin Zielke not be included, rather of the Supervisory Board chief Paul Achleitner, German Finance Minister, Olaf Scholz, and the Secretary of state – Ex-Goldman-Sachs-Banker – Jörg Kukies. Sewing self-rating of reserves the project, in identifying after the official confirmation of the talks three weeks ago in a letter to the employees of the Bank, and ten days ago at the meeting of the Supervisory Board well look. Plan A, was to be heard, was for him the unique position of the Bank. Only then Plan B with the Commerzbank come into play. There may be, even on weekends, more clarity. According to reports, Commerzbank steps up the pace.
The Bank would need to review the opportunity, the question of whether they wanted to contribute to the consolidation of the industry in Germany and Europe, says Sewing. You will, however, pursue only economically viable options. Whether the transfer is part of merger – rather the Commerzbank, is yet unclear. From a real Position of strength for the German Bank does not act in any case, even if the Sewing looks to you, of course, on the right path. They had come 2018. Had a “hunter mentality” Sewing called workers right after he took office. Many observers expressed about the concept of surprise. After one year, the balance sheet is Sewings as rather mixed. The Deutsche Bank is more in the midst of change. It is lagging behind internationally.
advance praise for Sewing, and was replaced a year ago, the hapless John Cryan, were quite considerable. In the case of Supervisory Board, Achleitner, but also for the banking Supervisory authority BaFin. Also, the employees seemed not convinced, because, finally, a German, and especially someone at the top who has spent his whole professional life at the Bank In the country and abroad.
The qualified Bank clerk and father of four children, who actually wanted to be a sports journalist, then went with 19 years for Deutsche Bank in the branch in Bielefeld, Germany. Only between 2005 and 2007 the Deutsche Bank has been unfaithful, sat in the Board of management of Deutsche genossenschafts-hypothekenbank. Otherwise, for him there was only the Deutsche Bank, with leadership positions in Frankfurt, Singapore, Toronto, Tokyo and London. In the beginning of 2015, the slim glasses, moved to the Board, initially for the area of justice, from June 2015 until the change at the top, he led the division for Private and business customers, where the removal of 200 branches and approximately 4000 Points was one of its main task.
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The remuneration of the Executive Board increased by about 90 percent
Sewing is as a maker and a pragmatist. Emotions, the passionate rarely shows. Airs and graces are not said to have. He was modest, it on the Hobby-tennis player. This fits in with less that the emoluments of the Executive Board have risen in the last year by around 90 percent. For the first time since 2014 a modest profit of 341 million euros was recognised, with a return rate of only 0.4 percent, can be difficult to justify. Especially since the share price has already dropped already maue since Sewings office of about 11.50 more to the current level of just under € 7.50.
When necessary to Save the Bank is progressing in spite of a massive staff reductions only slowly. At the same time, the actual transactions should not be run in the first quarter of round. The biggest legal cases are solved by comparisons and penalty payments. But that is totally open, what are the consequences of the Deutsche Bank to carry out various money laundering scandals.
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Until, at the latest, Easter Sewing want to have clarity about whether it will work with Commerzbank or not. This would be important, because Sewing needed in the case of a merger, probably with the support of the shareholders. And the meet for the annual General meeting on may 23. May. He will have to criticism to listen to.