Anshu Jain, who stepped down as co-chief executive officer of Deutsche Bank in June after 20 years at the company, said he regrets that its transformation into a global bank didn’t translate into a rising share price.
'The regret I suppose would be not transferring that and not realizing that in the form of investor value', Jain said at the Bloomberg Markets Most Influential Summit in London on Tuesday. 'There’s a whole variety of reasons why that’s taken place and certainly Deutsche is not the only institution -- the banking industry overall has struggled', he said.
Jain and previous CEOs transformed Deutsche Bank from a bank focused on German companies to a firm which finances global trade and works with the biggest investors. Still, the shares have underperformed several of its peers since the 2008 financial crisis as growth in Europe fails to track a rebound in the U.S. and fines for misconduct eat into the company’s capital.
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