Deutsche Bank AG :: essays research papers

Walker, M. (October 23, 2000). Deutsche Bank Plans to Make Its Retail Unit A Stock Outlet. The Wall route Journal (pg A29-30)This article is about Deutsche Bank AG tried to sell its sell business in order to concentrate on corporate and coronation banking six month ago and it is now working on a plan to change its retail unit into a pan-European outlet for stocks, mutual monetary resource and other investment products.Today, top executives of the worlds largest bank by assets, Deutsche Bank, are going to present their new ideas to their supervisory board. The board planned to consider the management proposals anterior this year before big steps were taken.The banks powerful investment-banking division Global Corporates & Institutions encourages the new idea. GCI oversees the retail network as a statistical distribution channel to the growing class of wealthy Europeans who are changing their savings into stocks and investment funds.Mr. Breuer had been told to rethink his previo us plan to sell a majority office in Deutsche Bank 24 by the supervisory board. The banks top investment bankers believe that retaining the retail business and focusing its efforts on selling investment products is utile than traditional banking services. In addition, Michael Philipp, the manager of the Deutsche Banks asset-management division, is also pushing the retail restoring to increase the sales of fund-management unit DWS, Europes biggest mutual-fund company.These plans arent limited with only Deutsche Bank 24, it is also for the groups private-banking unit, serving high school net-worth clients because of its aggressive expansion as a European sales channel for the GCI and asset-management units. Deutsche Bank also plans to win retail customers in the United States. It was that was followed a put up for National Discount Brokers Group Inc. earlier this month. It is up to the supervisory boards decision to accept the plan in order to keep the retail bank. On the other ha nd, they can oppose a strong shift away from basic retail banking. In todays meeting, there whitethorn be an understanding that leaves Deutsche Bank still well established in traditional domestic retail banking, as well as the retail investment services that stimulate its GCI bankers.Deutsche Bank had budgeted $109.3 million to build up Deutsche Bank 24 in Europe in August that includes redesigning branches abroad, merging information engineering and marketing the new business. Management consultants have expected that it would cost about 300 million euros to achieve credit across Europe in marketing.