“Deutsche Bank will be a leader in consolidation: Europe opens to mergers” | EUROtoday

Listen to the audio model of the article

Unicredit’s operation on Commerzbank? “In general, the banking market of the Old Continent, like other sectors, needs an infra European consolidation to compete globally”. He chooses and weighs the phrases fastidiously, Claudio De Sanctis. Italian banker however with a global breath, born in 1972, De Sanctis is at the moment on the prime of Deutsche Bank. For the German big he’s in control of the non-public financial institution, in addition to being a member of the administration board, roles he holds after a protracted profession between Credit Suisse, Ubs and Barclays. Visiting in Italy -the second market in significance within the EU after Germany for Deutsche Bank -, the supervisor speaks to Sole 24ore. And it provides its commentary level, valuable to grasp the view of the primary German financial institution and the function she intends to play within the European banking match, with a really unsure destiny. A recreation during which DB, exactly due to its management place in Germany, is extra doubtless at residence for the function of “Bianco Knight” of Commerzbank, in flip topic to an tried climb by Unicredit.

Let’s begin from right here: in Germany, Piazza Gae Aulenti, through HVB, goals to combination Commerz. How do you consider this deal?

I do not enter the precise case. However, what I really feel like saying is that each one of Europe should speak in confidence to European infra consolidations. This applies to each the banking entrance, as within the industrial one, as indicated additionally by the Draghi report. We shouldn’t have a single European protection, we shouldn’t have a single capital market, we shouldn’t have continental degree monetary samples. And all this makes our Europe extra fragile within the international chessboard. To make a comparability, JP Morgan at the moment is price how the primary 20 EU banks put collectively. For our firms it’s not attainable to compete globally with out having banks of worldwide dimension.

Fault of politics?

Today the regulatory body makes the cross-border mergers of the undoubtedly difficult processes. And to all that is additionally added an inner resistance to the assorted nations on which, nonetheless, I don’t enter.