“It is different this time,” promised Christian Sewing, Deutsche Bank’s CEO. Plenty of grand plans have gone kaput at the German lender since predecessor Alfred Herrhausen imagined Deutsche as a global bank in 1989, shortly after the Berlin Wall fell.

As Sewing spoke, many Deutsche staff were having a Lehman moment. They were preparing for redundancy as their employer crashed out of full-service investment banking, albeit in better shape than the defunct Wall Street business.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now