Deutsche Bank CEO Warns of Rising Pressure to Consolidate

  • Sewing reaffirms ‘global ambition’ in conference speech
  • Regulatory burden, IT spending needs will overwhelm many banks
Lock
This article is for subscribers only.

Deutsche Bank AG Chief Executive Officer Christian Sewing has a stark message for the thousands of banks spread out across the European Union: bulk up or die.

“The pressure to consolidate will rise significantly,” Sewing said in a speech at a conference in Frankfurt on Wednesday. An increase in regulatory requirements, in addition to an already-pressing need for investment in information technology, will “overwhelm” many banks, he said.