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Government officials, led by Finance Minister Olaf Scholz, have pushed for a merger to create a national banking champion and end questions over the future of the two banks. A tie-up between the lenders is an enormous undertaking because both are already in the midst of restructuring, some bankers and regulators have said, adding that a merger would not necessarily solve Deutsche’s core weakness, its sprawling global investment bank. From the start, some major investors have expressed scepticism about a deal, while unions have warned of 30,000 potential job losses versace cufflinks.
Days after the talks were announced, Zielke promised the bank’s employees a quick decision on whether to go forward with a merger, according to a memo seen by Reuters. The Commerzbank workers’ council then sent a letter to board members to protest against the merger, saying the idea lacked support among workers, customers and society. “We are of the opinion that you will fall into an uncontrollable adventure without a solid plan, without a vision and without support,” the letter said versace cufflinks.
FRANKFURT (Reuters) – Deutsche Bank investor Riebeck-Brauerei plans to file a motion seeking a vote to oust the bank’s chairman Paul Achleitner at this year’s annual general meeting, a lawyer for the shareholder said on Thursday. Jan Bayer, Riebeck-Brauerei’s lawyer, said the justification to oust Achleitner was for his “dismal performance” and for pursuing a “value-destructive” merger with Commerzbank. Bayer said that he planned to file the motion for his client in the next week. Riebeck-Brauerei is an investment company which has a small shareholding in Deutsche Bank versace cufflinks.
Deutsche Bank, which is due to hold its annual general meeting on May 23, declined to comment versace cufflinks. The disaffection with Achleitner comes as Germany’s largest bank has begun talks to merge with Commerzbank. If successful, the tie-up will bring together Germany’s two biggest banks to create one of Europe’s largest financial services groups. German government officials, led by Finance Minister Olaf Scholz, have pushed for a merger to create a national banking champion and end questions over the future of the two banks, which have struggled to recover from the 2008 financial crisis..
Last year, Riebeck-Brauerei filed a similar motion to oust Achleitner, prompting Deutsche to issue a statement supporting the chairman for his “comprehensive personal and professional skills and integrity”. At the annual meeting last year a small shareholder group led by Riebeck-Brauerei failed to oust Achleitner, garnering 9.05 percent of the vote versace cufflinks. Bayer also said Riebeck-Brauerei would file other motions, including one to not ratify the actions of the management and supervisory boards over the past year..