All change.(Deutsche Bank has announced a restructuring plan, and a shareholder has challenged the bank's manager share-option program; these and other business items are reported)(Business This Week)(Brief Article)
Economist (US), The, July, 1996
A week after Switzerland's Credit Suisse reorganised itself, another big European bank, Deutsche Bank, announced that it was restructuring. Board members will each be responsible for a single business within four global operating divisions, and a new team will oversee strategy. Deutsche has also taken a 5% stake in a Bavarian rival, Bayerische Vereinsbank, for DM500m ($329m), a move that could foreshadow consolidation of Germany's crowded banking industry.
Another of Deutsche's new ideas meanwhile took a knock. Ekkehard Wenger, Germany's leading shareholder activist, filed a legal challenge to a share-options scheme for the bank's top managers, calling it excessively generous.
Officials said that Russia intended to make a $300m-500m Eurobond issue before...
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