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Deutsche Bank, Credit Suisse, UBS Give Impetus to Bank Deal Talk

  • Von Moltke, Gottstein, Ermotti speak at virtual conference
  • Talks have picked up as the pandemic forces banks to combine
James von Moltke
James von MoltkePhotographer: Alex Kraus/Bloomberg
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Top executives from some of Europe’s biggest investment banks gave further impetus to talk of consolidation sweeping across the industry, saying it’s only a matter of time before more takeovers happen.

Deutsche Bank AG Chief Financial Officer James von Moltke on Tuesday signaled the German lender is interested in cross-border mergers when consolidation in European banking takes off. Sergio Ermotti, the chief executive officer of UBS Group AG, said the pandemic has made it clear that deals need to happen, comments that were echoed by his counterpart at Credit Suisse Group AG.