Greece "not a Lehman", says Deutsche Asset and Wealth Management CIO

THE Greek situation will not cause a global financial crisis but creates volatility that could be useful to investors who want to add European equity positions, said Deutsche Asset and Wealth Management's chief investment officer Asoka Woehrmann.

"We're not going to rush in, we're going to be patient," he said in a recent briefing for Singapore media.

He described the world economy as being in a non-textbook-like recovery cycle that is extraordinarily slow but steadily moving up.

"If this is a normal cycle, after six years of a bull market, we have to prepare now for very disruptive markets. After six years, I still believe risk markets have not seen the top."