More than ever, Deutsche CE Christian Sewing needs to convince investors
With a German recession just around the corner, time is not on the Deutsche Bank chief’s side
Ever since Deutsche Bank abandoned talks to merge with Commerzbank in April, a drip-feed of information on what Germany’s biggest lender plans next has leaked out.
For CEO Christian Sewing, the danger is that he finds most of his cards have been played well before he can unveil his overhaul at the end of July. He can ill afford to disappoint investors. Deutsche Bank has presented four strategic overhauls in as many years, not one of which has been able to stop the shares from plumbing new record lows. The firm is valued at just one quarter of its tangible book value — the steepest discount among its peer group...
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