Joan Detroit, Deutsche Bank, China discussed on Monocle 24: The Globalist

Automatic TRANSCRIPT

Seven forty three here on the time to talk business joan detroit's future finance or at and i'm delighted to say he joins me on the line now john welcome to monaco twenty four letters begin with the sacking of john cryan ac of deutsche bank good morning yes you know this was seemed to be somewhat anticipated by markets this story had been swirling in the press for a few weeks it was expected that crown be going out before too long but now we know who's taking his place and the bank supervisory board has named christian suing who's been with the bank really since he was a teenager as cryan successor and this was all the result of emergency meeting which ran late into sunday night a reported losses of five hundred million euros in in in in february how much of a mess is deutsche bank in well it it is a mess and cryan was just not turning the ship around quickly enough and you know you look at christian suing letter to to the staff to to to his colleagues and number two he named three three he kinda still his priorities and he said you know cost cutting is vital in the fourth quarter is not to be repeated any circumstances so you can tell already where his focus is going to be let's move onto the next subject we've been talking about china and russia trying to read rejig the welder in the in the next couple of years but donald trump seems to be playing sort of isn't as mexican stand of between beijing and washington of who's going to blink first in the trade dispute.

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