Deutsche staff reel from 'Duesselgate' of restructuring
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Frankfurt
DEUTSCHE Bank will remember Thursday, Jan 8 as the start of "Duesselgate", a nickname born not of wrongdoing, but from the shockwaves sent by a speech given in Germany's former industrial heart.
Co-chief executive Juergen Fitschen stood before some 450 staff and clients in Duesseldorf and wondered aloud whether the bank's claim to a universal strategy would survive. "Deutsche Bank is pretty much alone in Europe with this claim," he said, only weeks after the group decided to examine its business model from head to toe. "We're just wondering, what the right model is for Deutsche Bank, considering our local market and our global claims?"
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