Asset managers sanguine on Deutsche Bank woes
Bank’s troubles seen as unlikely to trigger wider banking crisis
Asset managers are playing down fears about the knock-on effects of Deutsche Bank's recent troubles.
"The good news is… this isn't Lehman. This isn't 2011 with Greece and some of the other euro issues," said Rebecca Patterson, chief investment officer at Bessemer Trust Company, a wealth manager with more than $100 billion in client assets.
"We've had a lot of clean-up since then. A lot of Deutsche Bank's challenges have been extremely well publicised in the media, so investors are aware of it
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