The bank had to withdraw its own study because the criticism of the financial center Germany was too pointed.
(Photo: dpa)
Frankfurt With the DB Research department, Deutsche Bank has its own independent think tank. Obviously, too much independence can also be a problem. At least this is supported by the fact that Deutsche Bank received a report from DB Research on the deplorable situation in Germany as a financial center shortly after publication.
On Tuesday, the think tank posted the study on which the “Börsenzeitung” first reported. The paper quotes from the analysis in which the author gives the financial center an “absolute certificate of poverty”.
This also applies to the “factual refusal of the decision-makers in politics to even acknowledge the infirmity of the financial center and to counter it with powerful, decisive measures”. No other major country in the world has so neglected its banking industry and watched it be dulled.
That was obviously too much for the parent company. The critical study has since disappeared from the website, but Deutsche Bank has published the following statement on the affair: “The study reflects the views of the author. These are not shared by Deutsche Bank, nor have they been authorized by Deutsche Bank Research management. In particular, Deutsche Bank and Deutsche Bank Research distance themselves from the content and form of inappropriate criticism of supervisory authorities and political decision-makers expressed in the study. “
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Deutsche Bank does not want to comment on the question of who authorized the study or on the question of whether the control mechanisms need to be improved. The bank also does not comment on the question of whether the authors are threatened with disciplinary action.
DB Research is headed by David Folkerts Landau, the bank’s chief economist. The affair surrounding the withdrawn financial center study is not the first time that Deutsche Bank has had trouble with its own think tank. Most recently, DB Research caused a stir when economists demanded a tax on home work in the middle of the pandemic.
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