If Europe needs a big global investment bank, this firm thinks it can fit the bill.
Reuters reports that for that reason, Deutsche on Monday asked shareholders for $10.95bn to help the bank keep its place in the shrinking 'bulge bracket' of big investment banks that includes JP Morgan, Goldman Sachs, Citi and Morgan Stanley.
While other European banks such as UBS are scaling back in investment banking, Deutsche remains the only European investment bank to have avoided wholesale job cuts and the only one aiming to represent European companies in the capital markets worldwide.
'Our continent is at a turning point where it needs to decide whether it wants to belong to the champion’s league of financial markets participants', Achleitner said earlier this year.
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