Deutsche Bank Chairman Leads Battle For The Bulge Bracket
Paul Achleitner, the chairman of Deutsche Bank, believes Europe needs a global investment bank to support the region’s companies that can measure up to rivals in the United States. For that reason, Deutsche Bank asked shareholders on Monday for 8 billion euros to help the bank keep its place in the shrinking “bulge bracket” of big investment banks that includes JP Morgan, Goldman Sachs, Citi and Morgan Stanley. Market strategist Mike Ingram sees trouble ahead.
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