Neuer Aufbruch ins globale Bankgeschäft: Die Personal- und Steuerungsprobleme der Deutschen Bank beim Einstieg ins internationale Investmentbanking

Abstract

The article examines the genesis, perception and handling of the staffing and governance problems of Deutsche Bank, which stemmed from its entry into international investment banking in the mid-1980s and which have remained virulent into the bank’s recent past. Why was it not possible to prevent the blatant, extremely costly and permanently reputation-damaging breaches of rules by many investment bankers in this business area? An important explanatory factor seems to be the only half-hearted adherence to the concept of a global universal bank with integrated investment banking, while investment banking – which expanded strongly through the acquisitions of Morgan Grenfell (1989) and Bankers Trust (1998) – was de facto granted extensive autonomy within the group and a continuous but not precisely recorded transfer of resources by the parent company.

Keywords

• deutsche bank
• investmentbanking
• alfred herrhausen
• deutsche bank capital markets
• morgan grenfell
• bankers trust
• vergütungssysteme
• personal- und steuerungsprobleme
• investment banking
• renumeration systems
• staffing and governance problems
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