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United States, Germany, Senate discussed on FT Banking Weekly


Welcome to banking weekly from the financial times with me patrick jenkins joining me in the studio today on martin our banking editor caroline venom of financial regulation correspondent and olaf stomack correspondent in frankfurt we're also joined by a guest nick hammond full buck these executive who is now at willed wide technology this week we'll be looking at deutsche bank as it announced his plans to take ax to its investment bank an investigation of tsb and the damage done by its it disaster and finally a look at the cloud and the extent to which financial regulators are looking at the way banks outsource their it i to deutsche bank and olaf you'll here in the studio in london normally on the ground in frankfurt in both countries it's been a pretty big week for deutsche bank they've announced their investment bank is going to shrink dramatically tell us exactly what's going on your so don't you bring the new ceo christine saving eighteen days off he was appointed basically put an end to a twenty year embellishing of becoming of being globally active investment bank which is basically at powers the big five american investment banks and they know decided to focus their resources more on european investment banking they will keep oppression in the us it's not a complete pullback out of the us but they would trink their trading activities then they will also string their corporate finding activities which based on us senate clients at the semi stand this is exactly what we expected when christian saving who had previously been head of the retail bank deutscher was appointed that been some questions though the weather the rhetoric which is expected as a refocusing on germany pulled back from investment banking is matched actually by the details of this plan it doesn't sound as if it's that dramatic in terms of cost savings or job cuts the things we just don't know yet so don't you bank didn't break out a lot of details on.

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