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

Sattler Friederike ()
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Sattler Friederike: Goethe-Universität Frankfurt am Main, Historisches Seminar, Wirtschafts- und Sozialgeschichte, Norbert-Wollheim-Platz 1, D-60629 Frankfurt am Main, Germany

Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, 2023, vol. 64, issue 2, 407-432

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 (search for similar items in EconPapers)
JEL-codes: N (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jbwige:v:64:y:2023:i:2:p:407-432:n:14

DOI: 10.1515/jbwg-2023-0015

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