Latest news with #ChristianSewing
Bloomberg
2 days ago
- Business
- Bloomberg
Deutsche Bank CEO on Germany Investment Push
Deutsche Bank Chief Executive Officer Christian Sewing discusses the initiative launched by German Chancellor Friedrich Merz and more than 60 of the nation's leading companies to help lift Europe's biggest economy. "I think we all strive for the same goal, which is to finally have growth and competitiveness back in Germany and in Europe," Sewing tells Bloomberg Oliver Crook in Berlin. (Source: Bloomberg)
CNBC
3 days ago
- Business
- CNBC
Global week ahead: Banking bellwethers and a tariffs waiting game
Next week, the CNBC teams are back on the road – and it's all about the banks and the ECB. From Frankfurt to Milan, and Paris to London, the financials are in focus. The markets seem to be banking on the financial sector to keep up the positive earnings momentum this quarter. Citi described the first quarter as "remarkably resilient," with analysts now expecting Stoxx 600 earnings-per-share growth to turn positive year-on-year this quarter. Much of that optimism is centered on the big banks, while other sectors like luxury, autos and energy have been plagued by earnings downgrades. Unicredit kicks things off on Wednesday. The Italian banking giant will try to keep investors focused on the numbers, rather than its M&A ambitions. While its moves around Commerzbank have seen it increase its equity stake to 20%, Saxo Bank analysts highlight the uncertainty around its potential takeover of Banco BPM, after an Italian court blocked the move until further conditions are met. The stock is up over 50% so far this year, providing some cheer for CEO Andrea Orcel as he battles to keep his expansion plans on track. French financial BNP Paribas — the euro zone's largest lender by assets — reports earnings on Thursday. Last quarter, the bank soared past expectations driven by performance at its investment bank, but revised its profitability target slightly lower. On the same day, attention will turn to Frankfurt for Deutsche Bank's latest set of numbers. The German lender logged its best profit in 14 years last quarter, benefiting from increased trading volumes around the market volatility. CEO Christian Sewing told CNBC in June that he sees an opportunity for Europe to invest more in its own defense sector as a key growth area. For macro-watchers, the highlight of the week in Europe will come from the European Central Bank. President Christine Lagarde and her fellow policymakers are expected to keep rates on hold at 2% on Thursday. But there is a BIG catch… U.S. President Donald Trump's tariff threats are not expected to derail this meeting's outcome, according to Reuters, citing five ECB governing council member sources. But if Trump does push ahead with 30% tariffs on EU imports, there is a broad assumption the ECB will cut rates in response. Investors will have until Sept. 11 to assess the impact, as the ECB breaks for the summer after this week's meeting. In terms of the underlying economic conditions, Deutsche Bank warns that European inflation risks are "still being underestimated, with a remarkable complacency across key assets," with the tariff impact yet to fully trickle through. The bank's macro strategist also told CNBC's Squawk Box Europe that the Aug. 1 tariff deadline for negotiations between the U.S. and EU sets the stage for a late outcome to trigger a "very sharp market reaction."
Reuters
03-07-2025
- Business
- Reuters
Deutsche Bank revamps advisory roles at global investment bank
FRANKFURT, July 3 (Reuters) - Deutsche Bank ( opens new tab has revamped some leadership roles in its deal-making business, the latest reshuffle at the German lender's global investment bank as it seeks to meet a series of ambitious targets this year. The bank said last month that its deal-making business had not performed as strongly as it expected due to global trade tensions. Among the changes, Pierpaolo Di Stefano will oversee origination and advisory for Europe, the Middle East and Africa, excluding Germany, Austria and Switzerland, a Deutsche Bank spokesperson said on Thursday. Jeff Cady and Bruce Evans will lead origination and advisory in the Americas, the spokesperson said. A memo was recently sent to staff to announce the changes. Reuters has not seen the memo. The aim was to streamline and simplify the job structure, said a person with direct knowledge of the division. CEO Christian Sewing has called 2025 a "year of reckoning" as Germany's largest bank faces a deadline to meet targets on costs and profitability. Deutsche Bank is also working to formulate financial goals for 2026 and beyond and possibly tweak its strategy, with Sewing declaring that nothing is off limits. Among other changes at the deal-making division, Berthold Fuerst will oversee the origination and advisory business in Germany, Austria and Switzerland, the spokesperson said. In February, Deutsche Bank announced the retirement of its long-time co-head of the global investment banking division, Mark Fedorcik, and named his successor, Alison Harding-Jones. While at Deutsche, Fedorcik oversaw a hiring spree at the investment bank after a period of retrenchment at the division. Among his hires was Harding-Jones, who joined Deutsche Bank last year as global head of mergers and acquisitions. She previously worked at Citigroup and UBS. This is the first major revamp at the investment bank under Harding-Jones. CEO Sewing said last month that Deutsche's origination and advisory business was not as strong as executives had expected at the start of the year as companies postpone decisions due to U.S. tariff policies. "Will it be weaker than we initially thought? Yes. But, to be honest, we talk about a lot of delayed, but not cancelled, deals," Sewing said. Deal-making has slowed this year as U.S. President Donald Trump's tariffs on trading partners fanned turmoil in markets and sparked concerns about slowing economic growth. Other big banks, including Bank of America, have also warned of a slowdown in the business. For Deutsche, origination and advisory revenue, after making big gains in recent quarters, dropped 8% in the first quarter.
Business Times
12-06-2025
- Business
- Business Times
Deutsche Bank's deal-making business weaker than expected, CEO says
[FRANKFURT] Deutsche Bank's origination and advisory business is not as strong as the German bank had expected, with companies postponing decisions due to the US' tariff policies, the bank's chief executive officer Christian Sewing said on Thursday (Jun 12). He said at a financial conference that the deal-making business would be weaker in the second quarter than executives had planned for at the start of 2025. 'Will it be weaker than we initially thought? Yes. But, to be honest, we talk about a lot of delayed, but not cancelled, deals,' he said. Deal-making has slowed this year as US President Donald Trump's tariffs on trading partners fanned turmoil in markets and sparked concerns about slowing economic growth. Other big banks, including Bank of America, have also warned of a slowdown in the business. For Deutsche, the so-called origination and advisory revenue, after making big gains in recent quarters, fell by 8 per cent in the first quarter. Sewing said that revenue in the investment bank's much larger fixed-income and currency business will be up in the second quarter, compared with the previous year. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He said he was optimistic about Deutsche's other business lines, such as its corporate and retail banks, and that the bank was sticking to its targets. This is a crucial year for Deutsche Bank, Germany's largest lender, as it faces a deadline to meet ambitious goals on costs and profitability. Asked about the prospect of mergers and acquisitions as banks in Italy and Spain weigh consolidation, Sewing replied that Deutsche 'can grow organically'. 'I'm not looking so much at consolidation for Deutsche Bank,' he said. REUTERS
Zawya
12-06-2025
- Business
- Zawya
Deutsche Bank's deal-making business weaker than expected, CEO says
FRANKFURT: Deutsche Bank's origination and advisory business is not as strong as the German bank had expected at the beginning of the year, CEO Christian Sewing said on Thursday. Sewing said at a financial conference that the deal-making business will be weaker in the second quarter than executives had planned at the start of 2025 as companies postpone decisions in the wake of U.S. tariff policies. "Will it be weaker than we initially thought? Yes. But to be honest, we talk about a lot of delayed, but not cancelled, deals," Sewing said. Deal-making has slowed this year as U.S. President Donald Trump's tariffs on trading partners fanned turmoil in markets and sparked concerns about slowing economic growth. Other big banks, including Bank of America, have also warned of a slowdown in the business. Sewing said he was optimistic about Deutsche's other business lines, like the corporate bank and retail bank, and Deutsche Bank is sticking to its targets, he said. This is a crucial year for Deutshe Bank, Germany's largest lender, as it faces a deadline to meet ambitious targets on costs and profitability. (Reporting by Tom Sims, Editing by Rachel More)
