Deutsche Bank AG co-chief Anshu Jain warned against splitting
investment and retail banking sectors in Europe, because it would
harm customers and lead to disadvantages for the European banking
sector.
"This is a political discussion that is only happening in
Europe," Mr. Jain said at a conference organized by German
newspaper Sueddeutsche Zeitung in Berlin.
Splitting banks such as Deutsche Bank would create problems for
customers, because it would create inefficiencies, Mr. Jain argued.
He advocated instead to focus on implementing the latest banking
regulatory standard, known as Basel III, which includes a set of
international banking reform measures meant to bolster bank capital
reserves.
The co-CEO also announced a restructuring of the investment
banking business of Deutsche Bank, without offering any concrete
details.
"We have announced this for 2013. It will lead to huge changes,"
he said. "This [is] not about cosmetic measures."
Mr. Jain said Germany's largest bank is ready for all economic
scenarios in response to a question of whether the German bank is
prepared for a possible collapse of the euro. He cited examples of
slower growth in China and an increase in unemployment in the U.S.
as other possible scenarios.
"There is still a lot of painful adjustment processes that must
be gone through," Mr. Jain said.
Write to Susann Kreutzmann at Susann.Kreutzmann@dowjones.com