Contents page 1 — Fusion into the Unknown page 2 — the rescue at the last second, On a page
The Berlin-based merger of the Commerzbank and the German Bank is the latest humiliation in a long line of bad luck, problems and breakdowns for the 149-year-old Frankfurt institution. The Federal government fears for the existence of the last major international Bank in Germany, therefore, of the merger plan.
The worry is not unfounded. The International monetary Fund warned in 2016, the Deutsche Bank is the biggest risk for the global financial system. Since then, the situation has stabilized somewhat, the Bank reported to 2018, for the first time after three years of losses again – even if scarce – profit. However, the fundamental problems, nothing has changed. To get an idea of what should be the role of the Deutsche Bank and what business model will you grow for the future and wants to earn money is missing in the chief days.
just a few years Ago, it would have been unthinkable that the German Bank would leave the policy to say something. It was rather the other way around. In the nineties, Deutsche Bank was the most powerful institution in Europe. It was through their participation in the large companies in the country, the Nexus of the Deutschland AG. In 2007 she was, along with the UK’s RBS and the French BNP Paribas, the largest banks in the world. Pride, the former chief Josef Ackermann pointed out that his Institute have done it without the help of the state through the financial crisis.
scandals, scandals, scandals
Since then, there was hardly a scandal in the world of Finance, at the Deutsche Bank didn’t show up. The U.S. Department of justice, accused her to have the toxic mortgage products and the financial crisis contributed to sold. The allegations settled, paid the Bank $ 7.2 billion. Because of the Manipulation of the interbank interest rate Libor American and British authorities imposed $ 2.5 billion fine.
transactions with the Iran, Syria, Libya and the Sudan have resulted due to breaches of Sanctions to further payments of compensation in the United States. Not least of all investigators interested in the German Bank accused of money laundering for Russian oligarchs. The list could go on: traders of the Bank were involved in the dirty business of weapons dealer Adnan Kashoggi. In 2010, the Bank paid over 500 million dollars, allegations of abetting tax evasion in the United States. In the ten years since the crisis, Deutsche Bank had to provide more than 17 billion dollars in fines and settlement payments, together expected, the financial news service Bloomberg. The weakened not only the financial power, but it is a threat to sustainable reputation.
Wall Street is to blame
How could, of all things, running in the ancient tradition of the Institute, the things so wrong? The answer: blame the Wall Street is, more precisely, the ambition of the German Banker said, is relevant for the future. As Deutsche Bank was in the nineties up to conquer the Anglo-Saxon financial world, it seemed that the transformation to a Global Player with the right strategy. German corporations were active all over the world, Germany began its ascent to the world’s export champion. More importantly, Wall Street houses such as Goldman Sachs, Morgan Stanley and JP Morgan began to conquer new markets. Soon they afflicted Deutsche Bank on their home market.
Under the leadership of Hilmar Kopper – known because of his remark, millions of unpaid trade invoices Peanuts had become the Bank on the Offensive. Only with the purchase of the prestigious London-based investment house, Morgan Grenfell, but that was not the German Bank enough. To be able to seriously up against the Wall-Street-Stars at Goldman Sachs and Morgan Stanley to compete, wanted to take over the Frankfurt bankers in a US Institute. The choice fell on Bankers Trust. You could not have been worse.
