Feb. 2 (Bloomberg) -- Deutsche Bank AG co-Chief Executive Officer designate Anshu Jain said the firm’s investment bank should supply less than 70 percent of the firm’s profits in the future.
Jain, speaking to reporters in Frankfurt today, said “70 percent is too high and certainly the relative share in the fourth quarter was not what it should have been. The long-term average which is somewhere between the two would be in the best interest of our shareholders.”
Deutsche Bank’s investment bank posted a loss in the fourth quarter after setting aside money for litigation and as its clients traded less amid Europe’s sovereign debt crisis.
To contact the reporter on this story: Nicholas Comfort in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Aaron Kirchfeld at email@example.com