Deutsche insists Covid-19 won’t derail ‘bad bank’ wind-down
Lender actively seeking buyers for remaining derivatives portfolios ahead of 2022 target, says CRO
The uncertainty hanging over global markets should not affect Deutsche Bank’s efforts to sell off the remaining parts of its non-core business ahead of a self-imposed 2022 deadline, according to Stuart Lewis, the lender’s chief risk officer.
“I don’t think the coronavirus will imperil the 2022 wind-down target, since that’s a fair amount of time to get through the work required,” says Lewis.
Deutsche announced a major restructuring in July 2019, as part of new chief executive Christian Sewing
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