once Again, was also called for a quick change of course. Andreas Thomae from the savings Bank group belonging to the Fund company Deka spoke about a “horror film with extra-long”. Alexandra Annecke, from Union Investment, the Fund house of the Volks – and Raiffeisen banks, was, like many other shareholders to vent their Anger: “It is sad and shocking what has happened to the German Bank. The former flagship of the Institute is only a colossus with clay feet.”
in The German stock index Dax-listed shares suffered on Thursday a new low blow. During the for a year, acting group chief Executive, Christian Sewing, and the criticism Board chief Paul Achleitner advertised for the shareholders of the trust, fell to the paper like a stone by up to four percent to a record low of 6.35 euros. The whole of the German Bank on the stock exchange is now less than 14 billion euros in value.
The shareholders granted Achleitner and Sewing failed, nevertheless, the relief, a request for dismissal Achleitner. The Bank, which is next March, 150 years old, is also under the Sewing out of the crisis. On his second General Assembly as the group’s arm of the 49 announced-Year-old again, a reconstruction of the rest of the investment Bank. “We are tough and ready”, he called out to the disappointed shareholders-some 4000 of them had made their way into the feast hall.
“We will accelerate the Transformation by aligning our Bank is consistently profitable and growing areas, which are relevant for our customers. And I stand by it. You can rely on.” Specifically Sewing, however, was not.
The investment Bank of the group was a machine before the financial crisis a Profit, has developed in the past few years, but for the problem child. Especially in the USA, where earlier Deutsche-Bank-heads of the big Wall Street houses at eye level in an attempt to compete, is cut off, the Institute now. Sewing set last year in share trading, or in the case of services for hedge funds, with the red pencil. Many of the major shareholders, but that is not enough, because the revenues erode further, with no end to the downward trend in sight.
it had Particularly a lot of criticism – as in previous years – Achleitner plug it in. Since the Austrians began seven years ago as a chief inspector, went to the share price, by more than 70 percent in the knee. A withdrawal or resignation of the 62-Year-old from castle nevertheless, He does not have to let investors and customers of the Institute in the lurch, he said. “At a monument to nothing, is to me the Welfare of the German Bank already.”
he got out of the shareholders no applause, Boos were, however, also. Self-critical, he admitted: “of Course I’ve made mistakes in the last seven years.” To the global ambitions of the investment Bank, the former Germany wants to hold-in-chief of the US Bank Goldman Sachs. Achleitner contract runs for three years.
The 62-Year-old finally received 71.6 percent of the votes cast for the discharge, as Achleitner self-announced as head of the shareholders ‘ meeting. Previously, there had been doubts as to whether the Austrians will be relieved. The boss of the group Sewing was relieved of 75.2 percent. Usual rates of more than 90 percent. (SDA)