Ensuring long-term success is about protecting reputation. But it may mean a painful adjustment from short to long-term thinking and to a more inclusive form of capitalism.
Illustration: Mark Smith
Only a decade or so ago Deutsche Bank was one of the darlings of the investment banking world, winning headlines like “Deutsche Uber Alles” as it went around the globe gobbling up rivals and eating up market share.
Deutsche Bank is back in the news but now the headlines carry apologies for past misconduct. In what can only be described as a sensational mea culpa, the bank recently took out full-page adverts in ten of Germany’s top newspapers, apologising for the damage caused by its ongoing legal problems relating to US mortgage-backed securities sold in the run-up to the financial crash.
The bigger question is whether
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