Deutsche Bank Awakens Investment Bank to Regain
Deutsche Bank AG, is battling its confidence to retain confidence among some shareholders and clients who is losing market share across investment banking in Germany and Europe once its considered unbreakable home turf.
The German bank has been threatened with a multi-billion-dollar from the U.S regulator and had seen its global investment banking fees which fall nearly 30 percent to $2 billion in the first nine months of the year.
Some of the bigger U.S. banks are pushing to win market share in Germany and Europe as Deutsche Bank grapples with rising costs tied to its restructuring plan, as well as mounting legal charges relating to mortgage-backed securities in the U.S. and alleged money-laundering in Russia, said rival bankers, who asked not to be identified talking about a competitor. Others cautioned against underestimating the German firm's strength in its home region.
As 2016 draws to a close though, Warren is confident that his firm can gain back some lost ground, citing demand from European and international clients. "I think we're going to see it pick up again," he said.
Last week, its global co-head of real estate, gaming and lodging Massimo Saletti had left to join JPMorgan.
Deutsche Bank has seen fees from global equity products take the biggest hit in the first time nine months of year with a 45 percent decline to $328 million.
Meanwhile, agendas had been made. Warren had tried to address gaps in Deutsche deal making capacity across Europe. He said, "we have product capability and geographical coverage but we need to add resources to some of our sectors coverage team".
Warren has also decided to merge the bank's maritime industries business into the global industrials group within corporate finance.
As a result, Evans Haji-Touma and Ashok Pandit have been appointed as global co-heads of sovereign wealth funds, pension funds and family offices, to be based in London and Hong Kong respectively.
They will report to Mike Walsh and Adam Bagshaw globally, who act as co-heads of private equity across the world, and to Alasdair Warren and James McMurdo regionally.