Putting employees over shareholders doomed Deutsche’s Cryan

6 April 2018/No Comments
By Nick Dunbar

In June 2015, John Cryan was appointed chief executive of Deutsche Bank, at the height of the Libor rate-rigging scandal. Hopes were high that he could turn the bank around.

Two years on, Deutsche Bank’s return on risk-weighted assets is the worst in our database of 11 top banks (Let’s ignore Cryan’s excuse of a write-down of deferred tax assets resulting from last year’s US tax reform act – this affected other banks that still made a profit). Meanwhile, Deutsche’s dividend has been slashed by 85 per cent in two years. Small wonder that the company has lost 26 per cent in market value this year alone.

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