Deutsche Bank to Intensify Outside Talks Over Strategy
- CEO Sewing held talks with Finance Ministry, Commerzbank
- Shares of both German lenders lost more than half in past year
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Deutsche Bank AG held frequent talks with the government and its main domestic competitor over the past months as concern mounted that Germany’s largest lender may not be able to emerge from its crisis without outside help.
Representatives of Deutsche Bank had about two dozen discussions with officials since the new government was formed in March, most of them between Deputy Finance Minister Joerg Kukies and Chief Executive Officer Christian Sewing as well as supervisory board Chairman Paul Achleitner, according to a Finance Ministry letter seen by Bloomberg. Sewing also met regularly with Commerzbank AG CEO Martin Zielke, according to two people briefed on the matter.