Deutsche Bank

And also that it has T-minus 12 months to makeover itself into an “After” bank (the “Before” being a pile of used tires left on the side of the road) and the clock starts now. Read more »

  • 31 Jul 2014 at 1:44 PM

Things Are Itchy At Deutsche Bank

From the front lines: Read more »

The guy in charge of it, Stefan Krause, said as much yesterday in a conference call with analysts. Well, sort of as much. Basically, he and the rest of Team Deutsche heard what the Federal Reserve had to say re: the U.S. operation being in such bad shape that it ought to be stripped and sold for parts, and in response, said “Hey!” and also “We’re workin’ on things” but to be patient because this thing in its current form is a real joke. Read more »

Yesterday we learned that back in December, the Federal Reserve sent a letter to Deutsche Bank, telling management, in essence, that it ought to set fire to its U.S. operations and collect the insurance money, then get out of the banking business. If the powers that be at DB insisted on sticking with this thing, they’d have a lot of work cut out for themselves, as the Fed’s criticism included the words:

  • “low quality”
  • “inaccurate”
  • “unreliable”
  • “size and breadth of errors”
  • “poor data integrity”
  • “systemic breakdown”
  • “significant operational risk”
  • “misstated regulatory reports”
  • “requires wide-ranging remedial action”

Clearly, this news would be bad enough on its own, but what really tops it off is that, hilariously, Deutsche’s CFO has devoted 100 percent of his efforts to making this operation what it is today. Read more »

Yes, of course it’s theoretically possible that management could go through and fix everything that’s wrong with the firm’s U.S. operations but, really, this is more of a tear down job. Read more »

Because the bank does not want Judge Astrid Nungesser to do that for it. Read more »

  • 25 Jun 2014 at 10:54 AM

Deustche Bank Asia Hemorrhaging Pitch Book-Makers

DB junior bankers are reportedly accepting opportunities elsewhere en-masse. Read more »