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  • Date of publication: 31 August 2020
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  • JP Morgan CEO says has no interest in buying Deutsche Bank: Handelsblatt

    Synopsis

    JP Morgan has no interest in buying Deutsche Bank the U.S. bank’s chief executive told German daily Handelsblatt.

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Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018. REUTERS/Brian Snyder/File Photo

 

JP Morgan  has no interest in buying Deutsche Bank the U.S. bank’s chief executive told German daily Handelsblatt.

“It would not make any sense,” Jamie Dimon told the paper. “If you only buy a company just to consolidate it, it is almost impossible to do without killing the patient.”

Dimon told the paper that consolidation among Europe’s banks could make sense, and appealed for a common deposit insurance scheme in Europe.

Dimon’s remarks about Deutsche come on the same day that activist investor Hudson Executive Capital, led by JP Morgan’s former Chief Financial Officer, took a 3.1 percent ownership stake in Germany’s flagship lender.

 

Reuters.com