| Interview
with Dr. Rolf-E. Breuer, IAB Member
Perseverance Puts Money in the Bank
Dr. Rolf-E. Breuer discusses the "astounding transformation"
of Deutsche Bank from a German-focused institution to one of the
world’s leading international financial service providers.
He also commends IESE on the establishment of the AMP Munich,
which he considers a "very promising" initiative.
1989 was a year of turning points in Germany. The
Berlin Wall came down, marking a new chapter in the country’s
history. It hardly seems coincidental that Deutsche Bank faced
a momentous decision of its own that year. As a new united country
emerged from the rubble of the Berlin Wall, so a new bank saw
the start of its own “astounding transformation,”
as one journalist has described Deutsche Bank’s “remarkable
turnaround.”
Deutsche Bank has changed more in the last two decades
than in the preceding century. It has gone from being a predominately
German-focused bank to becoming a truly global player operating
in 74 countries worldwide. More than half of the bank’s
66,000 employees work outside Germany.
In addition, the bank has gone from a traditional
commercial bank primarily granting loans to corporates and providing
private clients with traditional banking services such as account-keeping,
to becoming one of the world’s leading international financial
service providers. It advises private clients on investments and
asset management, and offers corporate and institutional clients
the full product assortment of an international corporate and
investment bank – from payments processing and corporate
finance, to support with IPOs and M&As. The bank also has
a leading position in international foreign exchange, fixed-income
and equities trading. During the first quarter of this year, Deutsche
Bank reported net income of €1.1 billion, up 17% compared
to the first quarter of 2004. Most of that revenue and profit
growth comes from outside Germany, showing just how far the bank
has traveled since in 1989, when 85% of revenue came from Germany.
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