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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (51957)5/23/2002 10:45:07 AM
From: H James Morris  Read Replies (2) | Respond to of 65232
 
Deutsche Bank CEO advises successor

Rolf Breuer bowed out yesterday after five years as chief executive of Deutsche Bank with a message to his successor, Swiss investment banker Josef Ackermann, that Germany's biggest bank needs to "reinvent itself" as it struggles to cut costs and become a global player.

Breuer, 64, said cost-saving measures launched last year helped push up profit in this year's first quarter, but in his last address as CEO to shareholders cautioned that more needs to be done. Along with cutting costs, Breuer said the bank should maintain its focus on its core businesses of investment banking and Swiss-style private banking, while shedding or consolidating other, less profitable sectors.

Associated Press



To: stockman_scott who wrote (51957)5/23/2002 10:51:06 AM
From: Boplicity  Read Replies (2) | Respond to of 65232
 
Thanks, Yep valuations will keep a lid on the naz for sometime, but the desire to own tech is still high. So, in my mind, the naz will not drop much anymore, and will be stuck in, what seems like, an endless sideway z pattern as it builds a base.

b


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