Anshu Jain

  • 23 May 2014 at 12:42 PM

Deutsche Bank Clarifies Its Business Plan

Deutsche Bank is determined to remain among the top five investment banks in the world, its co-chief executives told shareholders on Thursday at a typically raucous annual meeting, even as other European lenders cut back their profitable but risky trading activities. [...] “There will be winners and losers in the banking world,” said Mr. Jain, a native of India who delivered a prepared text in competent German. “We want to position Deutsche Bank systematically as a winner.” [Dealbook]

Deutsche Bank has concluded co-Chief Executive Anshu Jain is clean after an internal investigation into the role of the bank into the manipulation of global interest rates, German newspaper Frankfurter Allgemeine Sonntagszeitung reported. Citing supervisory board sources, the paper reported that the internal probe had cleared Jain of involvement in the Libor scandal after scrutinizing bank documents and interviewing hundreds of Deutsche Bank employees. [Reuters]

  • 13 Aug 2013 at 5:12 PM

Know Your CEOs: Anshu Jain

“[Deustche Bank chief Anshu] Jain is a hard-charging investment-banking veteran with a well documented interest in tigers.” [WSJ]

I’m beginning to get the hang of how Deutsche Bank works, which seems to be:

  • When they lose money, that strengthens their capital position, and
  • When they make money, that weakens their capital position, requiring them to sell shares.

Maybe? Three months ago we talked about how … well, I said “Deutsche Bank Improved Its Balance Sheet By Losing A Lot Of Money,” which I guess seemed funnier at the time, but to be fair (1) Bloomberg said “Deutsche Bank ‘took pain’ in the quarter by booking a loss to boost its capital ratio without selling shares,” which is about equally funny or unfunny, and (2) Deutsche did in fact have a 4Q loss of €2.2bn and yet increased its Tier 1 capital ratio by 90bps.

Today, on the other hand, Deutsche pre-announced – good! positive! €1.7bn! – first-quarter earnings and also:

The Management Board of Deutsche Bank AG resolved today, with the approval of the Supervisory Board, to execute a capital increase, which is intended to raise gross proceeds of approximately EUR 2.8 billion. The purpose of the capital increase is to strengthen the equity capitalisation of the bank. Read more »

  • 17 Apr 2013 at 4:30 PM

Bonus Watch ’13: Deutsche Bank CEOs

…won’t get paid more than $12.85 this year. Read more »

  • 31 Jul 2012 at 10:25 AM

Layoffs Watch ’12: Deutsche Bank

The Germans thought about it and decided yes, layoffs sound like a great idea. Read more »

  • 31 May 2012 at 6:05 PM

Layoffs Watch ’12? Deutsche Bank?

Mr. Jain, 49 years old, played a central role in building Deutsche Bank’s investment-banking business over nearly two decades as it reached beyond its staid commercial-banking roots. Investment banking now generates about 70% of the overall bank’s profits most quarters. He takes the [CEO] post at a time when many analysts consider the lender one of the least well capitalized among its investment-banking peers. The bank also faces a litany of legal problems on both sides of the Atlantic. Those who know Mr. Jain say he will cut the fat at the banking giant, sell businesses that don’t meet profit goals and shutter others. [WSJ]