Christian Sewing, the chief executive of Deutsche Bank, believes there is a stro...
FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt, Germany, February 1, 2019. REUTERS/Kai Pfaffenbach/File Photo
Sewing’s stance ahead of Thursday’s meeting of the supervisory board of Germany’s largest bank sets the stage for a showdown with unions fearing massive job cuts. Deutsche’s CEO also believes that a combined entity would improve the cost of funding, with “the best funding ever”, the person said. Jobs would be cut with or without a merger, the person said.The position marks a shift in Sewing’s position. In past months, he has urged patience, preferring to focus on internal restructuring before taking on a big project, according to other people with knowledge of his thinking.
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