Deutsche car sun shades Bank looks to join top three
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Deutsche Bank looks to join top threePublished: 11 Nov 2009 10:02:01 PSTBy Cong Mu Deutsche Bank’s (DB) head of Global Banking showed confidence in becoming a leading player in the Chinese investment banking sector Wednesday in Beijing.DB aims to become a top 3 investment bank in terms of market share in China and in the world, Michael Cohrs, who is also a member of the management board in DB, told the Global Times in an exclusive interview.However, Cohrs did not provide a timetable for when the bank expects to achieve its goals."We want to be a big player in Shanghai," Cohrs said, adding that the German investment bank will use its Chinese joint-venture (JV) to compete in the domestic securities market.The company formed a Sino-foreign JV, Zhong De Securities, with Taiyuan-based Shanxi Securities in July, becoming the seventh foreign brokerage house to engage in invest-ment banking in China.In addition to Zhong De, DB holds a 13.7 percent stake in Beijing-based Hua Xia Bank, and Deutsche Asset Management, a DB sub-division, holds a 30 percent stake in Harvest Fund Management, to which it delegated two mutual funds in July.On a global scale, DB expects some of the assets on its balance sheet to improve from this year to 2010 while securities prices go up, but the reopening of the securitization market will remain a big issue for investment banking, Cohrs said.The global economy still remains fragile and repercussions from the crisis would continue to be felt for many years to come, Cohrs told a group of MBA students in Peking University Tuesday.The largest German bank by market capitalization recorded a net income for the third quarter of 1.4 billion euros ($2.1 billion), up almost 340 percent from 414 million euros ($620 million) in the third quarter of 2008, according to its financial report.The old independent investment bank model will not come back because those banks do not have a way to fund their huge balance sheets during a financial crisis, while DB has half a trillion dollars from its customer deposits for funding, Cohrs said.China needs a few big banks to help Chinese companies expand overseas and a large number of small banks which are more efficient on a regional level to boost businesses and the economy, and all the banks need to take in deposits, Cohrs said.However, since China separates investment banking from retail banking and regulates them separately, a strong retail department does not necessarily benefit the investment banking department, said Zhao Xijun, deputy director of the School of Finance at the People’s University of China.Meanwhile, DB is helping finance projects related to alternative energy, such as tide and geothermal projects, despite their low returns, Corhs said. However, he believed the green ener-gy will become cost-effective quickly once a form of carbon tax is introduced.China has invested $41.2 billion from 2000 to 2008 in developing new energy technology, according to a report released by DB and the Earth Institute of Columbia University in October.China has lower risk profiles for climate change investments because it has strong incentives in place and consistent policies, the report said. Explore the World, Understand China!Please log on http://www.gloaltimes.cnショッピング枠現金化 カード 現金化 比較 launch x431 diagun 深圳搬家 lithium polymer 风机 外匯買賣 烘箱 超声波