FRANKFURT (Reuters) – The aim of a potential merger between Deutsche Bank and Commerzbank should not be to create a large investment bank because that “will not work”, a major shareholder in both banks said on Friday
“What problem are we trying to solve here? … That part is yet missing from this discussion,” Philipp Hildebrand, the vice chairman of U.S. investment group BlackRock , who was speaking at a conference in Frankfurt, said.
“The one thing that I’m convinced will not work is … if the objective in this operation is to try yet again to create a large, U.S.-inspired investment bank operation.”
(Reporting By Francesco Canepa. Editing by Jane Merriman)