November 16, 2018 / 10:16 AM / a month ago

Deutsche Bank CEOs says it isn't just about M&A and calls for JVs

FRANKFURT, Nov 16 (Reuters) - Banks should consider joint ventures in certain areas and products, and not just ponder mergers and acquisitions, the chief of Deutsche Bank said on Friday.

Chief Executive Officer Christian Sewing told a banking conference that banking consolidation must come “in the long run” because Europe has too many banks and needs stronger institutions to compete with the U.S. and Asia. (Reporting by Tom Sims Editing by Michelle Martin)

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