Deutsche Bank Still Doing Things Wrong Because It Takes Time To Stop Doing Things Wrong The Right Way

Going from "What's compliance?" to actual compliance could take at least a year.
By Deutsche Bank AG (GIF format logo) [Public domain], via Wikimedia Commons

via Wikimedia Commons

It took the Germans some three decades to build the perfect defrauding machine. It is not the kind of thing you can just dismantle overnight.

Chief Regulatory Officer Sylvie Matherat, who was promoted to board level by CEO John Cryan, said she needed at least another year or so to complete the compliance set up.

"If you really want to solve a problem in a sustainable manner, it will take longer and will be more difficult," Matherat told Reuters in an interview.

"The current management team is trying not to do quick fixes. It's much better to clean up properly. But that takes time and the journey can sometimes get a bit bumpy."

Deutsche Bank’s compliance revamp will be bumpy journey [Reuters]