Wednesday, March 2, 2016

Austerity is also true top management: German Bank CEO Cryan: “Our … – ABC Online

Wednesday, 02.03.2016, 21:51
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The traditional company German bank applies as ailing, critics of the remodeling of the Institute is proceeding too slowly. But German Bank CEO John Cryan defended his much-criticized policy.

German Bank CEO John Cryan has its by some investors as too little innovative criticized strategy in transforming the Bank defends. “Our vision is a bit abstract, because we focus on areas such as capital costs and complexity. But our strategy is not boring, “he said Wednesday at an industry conference the” Börsen-Zeitung “in Frankfurt.

Bank is efficient and transparent are

The bank has enormous potential. “We have embarked on a journey whose goal is clear.” The institute should be efficient and transparent. “The path is clear, we are a capital stronger and less risky bank be” Cryan said.

For this purpose he wants future consciously renounce little lucrative deals, but invest elsewhere as equity trading and asset management. “We will be more successful if we do not here and there on income, but at the same time invest in other areas.”

No personal chauffeurs more

For Saving Cryan takes on even the top management from the duty. Now assume there fewer flights in private jets, also Executive Board no longer have a personal chauffeur. Instead, the board members have to resort to a driver pool.

During the reconstruction of the criticized by himself as old-fashioned and expensive corporate IT there would be progress soon. The bank wanted to abolish three of its 45 operating systems this year. By 2020, a total of only four high-performance systems are to remain. Also in the reduction of risk, the Bank get on well.

dismantling of facilities goes ahead

He assume that the Group’s own mining sector is expected to have completed by the end of a large part of their assets. Later this year, also is likely to the sale of the North American port operator Maher be completed, belonging to the Deutsche Bank for years.

As already known, Cryan wants to strengthen capital, reduce costs and risk. The Bank is in the financial markets because of their high cost of litigation, its continuing high dependence on the financial markets and the abolition of dividend under pressure. Since Cryans office last July, the price of the stock by 38 percent, significantly higher than the European benchmark index

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