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Matt Levine

Bank Strategies and Tech Valuations

Also an industry-wide ban on joke e-mails, and surprising news out of Bulgaria.

Deutsche Bank.

A few weeks ago Deutsche Bank gave co-chief executive officer Anshu Jain "primary authority for implementing the bank’s new strategy," which previously, for some reason, was not the co-CEOs' responsibility? It was just some other guy, responsible for implementing strategy? (It was then-chief financial officer Stefan Krause.) Anyway one investor said that it was "the last chance for Mr. Jain to prove that his strategy is right," and that Jain "has to deliver, at the latest," by next year.