Deutsche Bank Says It Supports Deutsche Boerse CEO Francioni

Deutsche Bank AG said it supports Deutsche Boerse AG Chief Executive Officer Reto Francioni, who failed in his attempt to merge the operator of the Frankfurt stock exchange with NYSE Euronext.

“Regardless of the failure of the merger, Deutsche Boerse is stategically well positioned under Reto Francioni,” Frankfurt-based Deutsche Bank said today in an e-mailed response to questions from Bloomberg News.

Wirtschaftswoche cited Henning Gebhardt, a fund manager at Deutsche Bank’s DWS unit, as saying Deutsche Boerse neglected its business in order to pursue the transaction. In an article posted Feb. 5 on the German news magazine’s website, Gebhardt is cited as saying “sometimes you need a fresh start,” without being more specific.

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