Deutsche Bank has a plan to turn itself into Goldman Sachs
That's why the bank is considering exiting retail banking and focusing more on investment banking and asset management - essentially, copying the Goldman Sachs' model, Bloomberg's Nicholas Comfort and Birgit Jennen reported.
Jefferies Group analyst Omar Fall says Goldman is proof that investors reward trading returns, and would serve as a good template for Deutsche, according to Bloomberg.
German chancellor Angela Merkel's team is apparently on board with the idea.
"Deutsche Bank is Germany's only global player in banking... If they decide to restructure their business, we should support them," one of her party officials told Bloomberg.
That's important because Germany is the Deutsche Bank's largest market, and Germans rely on the global bank for access to capital markets. Wonder what Goldman CEO Lloyd Blankfein thinks of all this.
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