(Bloomberg) Deutsche Bank AG Chief Executive Officer Christian Sewing said Germany’s far-right AfD is damaging the economy with anti-democratic policies and blamed the party for contributing to declining investments in the country.Most Read from BloombergTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual VerdictsAmazon Drops iRobot Deal; Roomba Maker Cuts 31%
Deutsche Bank s
chief executive on Monday warned about the threat of right-wing
extremism in the lender s home market, saying the rise of the
nationalist Alternative for Germany risks investment.
The comments at a bank reception in Berlin are the most extensive yet on the subject from the CEO of Germany's top bank. Elections this year in several German states will be critical "to the future of our democracy - and our business location", Deutsche Bank's Christian Sewing said.
Deutsche Bank chief executive Christian Sewing has warned of the dangers of growing right-wing extremism in Germany - including for the country's economy. "Hate and racism must have no place in our country," said Sewing, who is also President of the Association of German Banks (BdB), in an interview for the Sunday edition of Die Welt newspaper seen in advance by dpa. From an economic perspective, there are also many reasons to take a stand against this, Sewing said. "Foreign investors are also g
Braunstein, a former finance chief of JP Morgan Chase, invested in Deutsche in 2018, backing Chief Executive Christian Sewing's efforts to turn around Germany's biggest bank and making him one its largest shareholders. Braunstein declined to comment on the reason for the reduction. Deutsche Bank, whose shares have risen 35% since Braunstein's investment was announced, said in a statement it was aware of the move, "which we understand is an in-kind distribution to certain" limited partners.