Deutsche Bank CEO: Very Interested In Sal Oppenheim
Deutsche Bank AG's (DB) Chief Executive Josef Ackermann Tuesday said the bank would make a decision on a partial acquisition of private bank Sal Oppenheim in the next weeks.
Ackermann declined to comment if Deutsche Bank could acquire a majority stake in Sal Oppenheim.
Deutsche Bank, which is Germany's largest bank by market capitalization, has previously said it made a non-binding bid for a stake in Luxembourg-based Sal Oppenheim, which is focused on investment banking and wealth management activities.
Deutsche Bank further expects opportunities to pick up market share in investment banking, even though it will maintain its current discipline toward risk, Ackermann said.
The bank currently has a Tier 1 capital ratio of more than 11%, and has moved to a more conservative refinancing basis, Ackermann said.
Speaking broadly about the financial crisis and banking industry at a conference in Frankfurt, Ackermann warned that some banks would require further capital.
The real estate market will undergo a further correction, Ackermann said. Further market turbulence can't be ruled out either, he said.
However, there is "light at the end of the tunnel" and banks are making progress recovering from the crisis. Capital markets are showing "clear signs" of improvement, Ackermann said.
A global approach must be taken to regulating compensation, Ackermann said. He warned that losing talent to other markets could hamper banks' ability to manage risks effectively.
Company Web site: http://www.db.com
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