Cryan Blames Market Forces for Deutsche Bank's Woes
Deutsche Bank AG Chief Executive Officer John Cryan said the lender has never had as safe a balance sheet in the past two decades and there is “no basis” for media speculation on clients leaving. “Our bank has become object of heavy speculation -- renewed rumors have sparked marked swings in shares,” Cryan said in a letter to staff on Friday. “Our job is that this distorted perception from outside doesn’t influence our business in a stronger way. There are some market forces, that want to weaken this confidence in us.” Even the outcome of U.S. litigation doesn’t justify the share decline, he said. Bloomberg's Lionel Laurent reports and CCLA Investment Management CEIO James Bevan discusses with Bloomberg's Francine Lacqua on "The Pulse."