Are there more moves afoot ? Speculation involving four banks doing the rounds.
Bloomberg News reports that Deutsche Bank Chairman Paul Achleitner is on his third strategic overhaul and fourth chief executive officer. Now, he’s mulling a solution that’s been raised countless times: merging Germany’s weakened banks to create one that thrives.
There are currently no formal discussions and a deal isn’t imminent. Yet such pairings have been floated - and sometimes pushed through - over the past decade as Germany has struggled to sustain a financial titan to match its massive economy. The concept’s re-emergence now shows pressure is building on Achleitner to snap Deutsche Bank out what it calls a “vicious circle.”
“I don’t believe at all that we are currently in a situation to see cross-border mergers because the environment still is not that clear,” Oudea told a Goldman Sachs investor conference on Thursday, according to a transcript of his speech by Thomson Reuters StreetEvents.