) largest shareholders, will no longer provide paid advice to the bank on how to run its business, a person with knowledge of the matter said on Monday, a role that has been criticized for potential conflicts of interest.
That mandate, criticized by some other large shareholders in the bank, is ending, the person said on condition of anonymity. The person said the agreement had reached its natural conclusion. “Is this a conflict of interest?” Deka portfolio manager Andreas Thomae asked the bank’s chief executive officer, Christian Sewing.
“Cerberus is very supportive of the developments taking place under” Sewing, a spokesman for Cerberus said. “We remain confident in his team’s ability to execute on the restructuring plan to improve the bank’s financial and operating performance.”
Cerberus, in Greek mythology, the monstrous watchdog of the underworld. Perfect partner for a bank.
Das ist das Ende der bank. Des vertrauens DB sagt eichelburg
Deutsche Bank, no longer lending Trump money 👍
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