New Deutsche Bank chief faces tougher challenge than at UBS

Deutsche Bank - Foyer Bridge

John Cryan helped resuscitate UBS as finance chief after its state bailout. In leading Deutsche Bank, he may face an even tougher challenge.

Bloomberg News reports that Cryan’s first task after taking the helm on July 1 will be to win back investor trust, eroded by years of missed targets, legal entanglements and low returns for shareholders.

Down the road, he’ll have to rethink the business model, a task that’s more complicated at Deutsche Bank because it lacks the giant and profitable wealth management business that buttressed UBS.

Instead, Deutsche Bank has tried to maintain a fully fledged investment bank, including a markets division dogged by a trading slump and stiffening capital requirements. A proposed strategy overhaul unveiled in April - trimming those operations while selling most of the Postbank consumer unit - was criticized by investors as too little, too vague and too late.

To access the complete Bloomberg News article hit the link below:

No Easy Fix for Cryan at Deutsche Bank Once Applause Dies Down

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