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DEUTSCHE BANK AG

The Nomination Committee of Deutsche Bank's Supervisory Board recommends proposing Alexander (Alex) Wynaendts for election to the Supervisory Board at the Annual General Meeting on May 19, 2022. It is intended that he will subsequently be elected the successor to Paul Achleitner as Chairman. Achleitner, who will have served 10 years in the post, previously announced his decision not to stand for re-election. The recommendation to elect Alex Wynaendts to the Supervisory Board is subject to the approval by the Supervisory Board plenary.

Alex Wynaendts brings extensive expertise and decades of in-depth experience in the global financial services sector to this role. From 2008 to 2020 he served as CEO of Aegon N.V., a leading European financial institution providing life insurance, pensions and asset management. He began his career at ABN AMRO, where he spent 13 years in private and investment banking in Amsterdam and London. Wynaendts joined Aegon N.V. in 1997 and held various leadership roles before becoming CEO in 2008. During his 12-year tenure, Wynaendts led Aegon through the financial crisis that started in the summer of 2008. He was credited with restoring the company's balance sheet and ensuring that the company maintained its strong capital position. He subsequently redefined Aegon's strategy, successfully transforming the company into a client centric, purpose-driven and profitable organisation. Currently Wynaendts holds positions on several Boards of Directors, among them Citigroup, Uber Technologies and Air France-KLM. He also serves on the Salesforce Advisory Board for Europe, the Middle East and Africa. He will step down from the board of Citigroup.

The Supervisory Board will also recommend to the AGM to create the role of another Vice Chairman alongside employee representative Detlef Polaschek. Norbert Winkeljohann, who joined Deutsche Bank's Supervisory Board in 2018, will be proposed for that role.

Over the last several months, the Nomination Committee of Deutsche Bank, under the leadership of Mayree Clark, conducted a systematic and comprehensive search process for the new Chairman. "I am very pleased that Alex Wynaendts has accepted our invitation to join Deutsche Bank's Supervisory Board and to lead the outstanding team Paul Achleitner has built over the past years," said Clark. "He is a European at heart with a truly global perspective. He has a proven track record in the financial services industry, in-depth understanding of technology and has worked with regulators on both sides of the Atlantic."

Paul Achleitner said: "It is my strong belief that a high-performing company requires both a strong Supervisory- as well as a strong Management Board. Alex Wynaendts has exactly the right personality and skills to ensure a continued trustful working relationship between both boards at Deutsche Bank. With the people decisions we have taken in the recent past, Deutsche Bank is well underway on its path to sustainable profitability."

Christian Sewing, CEO of Deutsche Bank, said: "I look forward very much to working with Alex Wynaendts. He has vast experience in the financial industry and an excellent network, not only in Europe but also globally. Alex Wynaendts thus stands for what has always been Deutsche Bank's identity."

Alex Wynaendts said: "It is a great honour to have been nominated by Deutsche Bank as a member of its Supervisory Board. City bank lubbock texas phone number very much look forward to joining this leading European-based financial institution and to serving the interests of Deutsche Bank's stakeholders - its clients, employees, shareholders, and the communities in which it operates. It is my strong belief that Deutsche Bank is well placed to address the growing needs of its global client base. I am committed to support the leadership team and all employees in continuing with the successful execution of its strategy."

For further information please contact:

Deutsche Bank AG news deutsche bank

Media Relations

Sebastian Kraemer-Bach
+49 69 910 43330 news deutsche bank
Email: [email protected]

Sebastian Jost
+49 69 910 48180
Email: [email protected]

Investor Relations

+49 800 910-8000
Email: [email protected]

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the news deutsche bank they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading "Risk Factors". Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.

Disclaimer

Deutsche Bank AG published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2021 14:33:04 UTC.

Источник: https://www.marketscreener.com/quote/stock/DEUTSCHE-BANK-AG-56358396/news/Deutsche-Bank-Alexander-Wynaendts-nominated-for-election-as-next-Chairman-of-Deutsche-Bank-s-Super-37095535/

Deutsche Bank Nabs Credit Suisse Banker

The German bank is poaching a key European wealth manager for the Nordics from its Swiss rival.

Frankfurt-based Deutsche Bank is hiring Dan Ingvarson(pictured below) as the head of Nordics in its international private bank and branch manager in Stockholm, it said in an emailed statement on Wednesday. Ingvarson is currently a senior private banker for the same a&m football at Credit Suisse in Zurich.

Portrait Dan Ingvarson 1

Ingvarson replaces Deutsche's current head in the Nordics, Pontus Gronlund, who leaves the German lender following a transition. Deutsche's Nordics bankers in the region itself as well as in Luxembourg and Switzerland will report to Invarson, who in turn will report to Michael Morley as well as join the top management in the U.K.

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Источник: https://www.finews.com/news/english-news/48912-deutsche-bank-dan-ingvarson-credit-suisse-michael-morley
Reuters

Economy is 'sitting on a time bomb': Deutsche Bank warns of 'devastating' effects of inflation

(Kitco News) The view that inflation is transitory could lead to devastating consequences for the U.S. economy, warned Deutsche Bank in a report.

"The consequence of delay will be greater disruption of economic and financial activity than would be news deutsche bank be the case when the Fed does finally act," Deutsche's chief economist, David Folkerts-Landau, and others wrote. "In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets."

Deutsche Bank disagrees with the Federal Reserve's outlook that the spike in inflation that the U.S. economy will see this year will be temporary and mainly due to base effects.

"We are witnessing the most important shift in global macro policy since the Reagan/Volcker axis 40 years ago. Fiscal injections are now 'off the charts' at the same time as the Fed's modus operandi has shifted to tolerate higher inflation. Never before have we seen such coordinated expansionary fiscal and monetary policy. This will continue as output moves above potential. This is why this time is different for inflation," the report noted. "The effects could be devastating, particularly for the most vulnerable in society."

The world is leaving its previous low inflationary environment. This shift has been accelerated by the massive monetary response to the coronavirus pandemic.

"It may take a year longer until 2023, but inflation will re-emerge. And while it is admirable that this patience is due to the fact that the Fed's priorities are news deutsche bank towards social goals, neglecting inflation leaves global economies sitting on a time bomb," Folkerts-Landau said. "Sovereign debt has risen to levels unimaginable a decade ago with large industrial countries exceeding red-line levels of 100% of GDP."

This crisis has been a different beast altogether, primarily because of the amount of stimulus that has been news deutsche bank into the economy. Congress has passed more than $5 trillion in pandemic-related stimulus so far. On top of that, the Fed has nearly doubled its balance sheet to almost $8 trillion.

"There is a striking difference between today's response and that of prior financial crashes as today's stimulus dwarfs the response to the crises in 2008 and the 1930s. The current fiscal stimulus is more comparable with that seen news deutsche bank WWII. Then, U.S. deficits remained between 15-30% for four years. While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalised and pent-up demand was released," the Deutsche Bank economists stated. "This is why this time is different for inflation."

The Deutsche team pointed out that the type of inflation that is coming could be similar to that of the 1970s — a decade that saw price growth average 7% and even rise to double-digits during certain times.

At the time, then-Fed Chairman Paul Volcker battled high inflation with dramatic interest rate hikes, which led to a recession. And the report warned that this could be what's in store for the U.S. this time around as well.

"Already, many sources of rising prices are filtering through into the U.S. economy. Even if they are transitory on paper, they may feed into expectations just as they did in the 1970s," the report said. "The risk then, is that even if they are only embedded for a few months, they may be difficult to contain, especially with stimulus so high."

In the face news deutsche bank all this, the Fed has promised to keep its monetary policy loose until it reaches its full employment and inflation goals. And while the U.S. central bank remains patient in light of higher inflation, it might miss the opportunity to act in time, the German bank added.

"The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act. In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets," the report explained. "Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended."

In the meantime, U.S. Treasury Secretary Janet Yellen stated that President Joe Biden's $4 trillion spending plan should go ahead even if it sets off higher inflation news deutsche bank could last into next year and leads to higher interest rates.

"If we ended up with a slightly higher interest rate environment, it would actually be a plus for society's point of view and the Fed's point of view," Yellen told Bloomberg on Sunday.

Источник: https://www.kitco.com/news/2021-06-08/Economy-is-sitting-on-a-time-bomb-Deutsche-Bank-warns-of-devastating-effects-of-inflation.html

Revamped Deutsche Bank now hiring traders from hedge funds

It's late in the year and bonuses are sparkling on the horizon, but Deutsche Bank is still out there hiring new traders for its fixed income business.

The German bank has recruited Nicholas Hall, a GBP swaps trader. Hall is understood to be joining DB in London tomorrow.

Hall has over a decade of rates trading experience. He began his career at RBS before spending four years at Goldman Sachs. He left Goldman in 2019 to join Tenaron Capital Management, a New York macro fund with an office in London. That move seemingly didn't work out because Hall is now back to the sell-side, and Deutsche is his chosen seat.

Hall's arrival at DB comes as the bank claims to be clawing back market share lost during the difficult years after 2015. It's also weeks after DB's credit rating was upgraded to A- from BBB, making it easier for the German bank to win back the clients who took their business elsewhere when the bank was considered a risky borrower.  

Hall is not the only addition to Deutsche's rates team this year. - Guy Winkworth joined from Morgan Stanley in March. Deutsche said that client activity in rates was "solid" in the third quarter, although revenues declined as market conditions normalized and volatility fell. In July, Deutsche's CFO and CEO said they were investing in traders and technology as part of DB's recovery plan. 

Contact: [email protected] in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

 

Источник: https://www.efinancialcareers.com/news/2021/11/deutsche-bank-hiring-from-hedge-funds

News deutsche bank -

Deutsche Bank AG

Deutsche Bank AG engages in the provision of corporate banking and investment services. It operates through the following segments: Corporate Bank, Investment Bank, Private Bank, Asset Management, Capital Release Unit, and Corporate and Other. The Corporate Bank segment includes the global transaction bank as well as the German commercial clients division. The Investment Bank segment consists of origination and advisory businesses as well as fixed income currency sales and trading. The Private Bank segment comprises the Private Bank Germany, private and commercial business international, and wealth management business units. The Asset Management segment provides investment solutions to individual investors and institutions through the DWS brand. The Capital Release Unit segment covers the equities sales and trading business. The Corporate and Other segment includes revenues, costs, and resources that are held centrally. The company was founded by Adelbert Delbrück on March 10, 1870 and is headquartered in Frankfurt, Germany.

Источник: https://www.marketwatch.com/investing/stock/db

DEUTSCHE BANK AG

The Nomination Committee of Deutsche Bank's Supervisory Board recommends proposing Alexander (Alex) Wynaendts for election to the Supervisory Board at the Annual General Meeting on May 19, 2022. It is intended that he will subsequently be elected the successor to Paul Achleitner as Chairman. Achleitner, who will have served 10 years in the post, previously announced his decision not to stand for re-election. The recommendation to elect Alex Wynaendts to the Supervisory Board is subject to the approval by the Supervisory Board plenary.

Alex Wynaendts brings extensive expertise and decades of in-depth experience in the global financial services sector to this role. From 2008 to 2020 he served as CEO of Aegon N.V., a leading European financial institution providing life insurance, pensions and asset management. He began his career at ABN AMRO, where he spent 13 years in private and investment banking in Amsterdam and London. Wynaendts joined Aegon N.V. in 1997 and held various leadership roles before becoming CEO in 2008. During his 12-year tenure, Wynaendts led Aegon through the financial crisis that started in the summer of 2008. He was credited with restoring the company's balance sheet and ensuring that the company maintained its strong capital position. He subsequently redefined Aegon's strategy, successfully transforming the company into a client centric, purpose-driven and profitable organisation. Currently Wynaendts holds positions on several Boards of Directors, among them Citigroup, Uber Technologies and Air France-KLM. He also serves on the Salesforce Advisory Board for Europe, the Middle East and Africa. He will step down from the board of Citigroup.

The Supervisory Board will also recommend to the AGM to create the role of another Vice Chairman alongside employee representative Detlef Polaschek. Norbert Winkeljohann, who joined Deutsche Bank's Supervisory Board in 2018, will be proposed for that role.

Over the last several months, the Nomination Committee of Deutsche Bank, under the leadership of Mayree Clark, conducted a systematic and comprehensive search process for the new Chairman. "I am very pleased that Alex Wynaendts has accepted our invitation to join Deutsche Bank's Supervisory Board and to lead the outstanding team Paul Achleitner has built over the past years," said Clark. "He is a European at heart with a truly global perspective. He has a proven track record in the financial services industry, in-depth understanding of technology and has worked with regulators on both sides of the Atlantic."

Paul Achleitner said: "It is my strong belief that a high-performing company requires both a strong Supervisory- as well as a strong Management Board. Alex Wynaendts has exactly the right personality and skills to ensure a continued trustful working relationship between both boards at Deutsche Bank. With the people decisions we have taken in the recent past, Deutsche Bank is well underway on its path to sustainable profitability."

Christian Sewing, CEO of Deutsche Bank, said: "I look forward very much to working with Alex Wynaendts. He has vast experience in the financial industry and an excellent network, not only in Europe but also globally. Alex Wynaendts thus stands for what has always been Deutsche Bank's identity."

Alex Wynaendts said: "It is a great honour to have been nominated by Deutsche Bank as a member of its Supervisory Board. I very much look forward to joining this leading European-based financial institution and to serving the interests of Deutsche Bank's stakeholders - its clients, employees, shareholders, and the communities in which it operates. It is my strong belief that Deutsche Bank is well placed to address the growing needs of its global client base. I am committed to support the leadership team and all employees in continuing with the successful execution of its strategy."

For further information please contact:

Deutsche Bank AG

Media Relations

Sebastian Kraemer-Bach
+49 69 910 43330
Email: [email protected]

Sebastian Jost
+49 69 910 48180
Email: [email protected]

Investor Relations

+49 800 910-8000
Email: [email protected]

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading "Risk Factors". Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.

Disclaimer

Deutsche Bank AG published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2021 14:33:04 UTC.

Источник: https://www.marketscreener.com/quote/stock/DEUTSCHE-BANK-AG-56358396/news/Deutsche-Bank-Alexander-Wynaendts-nominated-for-election-as-next-Chairman-of-Deutsche-Bank-s-Super-37095535/
Monday July 8, 2019

The overhaul, one of several over the past few years, signals that Deutsche is coming to terms with its failure to keep pace with Wall Street's big hitters such as JP Morgan Chase & Co and Goldman Sachs. The bank did not disclose a geographic breakdown of the job cuts.

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    Revamped Deutsche Bank now hiring traders from hedge funds

    It's late in the year and bonuses are sparkling on the horizon, but Deutsche Bank is still out there hiring new traders for its fixed income business.

    The German bank has recruited Nicholas Hall, a GBP swaps trader. Hall is understood to be joining DB in London tomorrow.

    Hall has over a decade of rates trading experience. He began his career at RBS before spending four years at Goldman Sachs. He left Goldman in 2019 to join Tenaron Capital Management, a New York macro fund with an office in London. That move seemingly didn't work out because Hall is now back to the sell-side, and Deutsche is his chosen seat.

    Hall's arrival at DB comes as the bank claims to be clawing back market share lost during the difficult years after 2015. It's also weeks after DB's credit rating was upgraded to A- from BBB, making it easier for the German bank to win back the clients who took their business elsewhere when the bank was considered a risky borrower.  

    Hall is not the only addition to Deutsche's rates team this year. - Guy Winkworth joined from Morgan Stanley in March. Deutsche said that client activity in rates was "solid" in the third quarter, although revenues declined as market conditions normalized and volatility fell. In July, Deutsche's CFO and CEO said they were investing in traders and technology as part of DB's recovery plan. 

    Contact: [email protected] in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

    Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

     

    Источник: https://www.efinancialcareers.com/news/2021/11/deutsche-bank-hiring-from-hedge-funds

    Economy is 'sitting on a time bomb': Deutsche Bank warns of 'devastating' effects of inflation

    (Kitco News) The view that inflation is transitory could lead to devastating consequences for the U.S. economy, warned Deutsche Bank in a report.

    "The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act," Deutsche's chief economist, David Folkerts-Landau, and others wrote. "In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets."

    Deutsche Bank disagrees with the Federal Reserve's outlook that the spike in inflation that the U.S. economy will see this year will be temporary and mainly due to base effects.

    "We are witnessing the most important shift in global macro policy since the Reagan/Volcker axis 40 years ago. Fiscal injections are now 'off the charts' at the same time as the Fed's modus operandi has shifted to tolerate higher inflation. Never before have we seen such coordinated expansionary fiscal and monetary policy. This will continue as output moves above potential. This is why this time is different for inflation," the report noted. "The effects could be devastating, particularly for the most vulnerable in society."

    The world is leaving its previous low inflationary environment. This shift has been accelerated by the massive monetary response to the coronavirus pandemic.

    "It may take a year longer until 2023, but inflation will re-emerge. And while it is admirable that this patience is due to the fact that the Fed's priorities are shifting towards social goals, neglecting inflation leaves global economies sitting on a time bomb," Folkerts-Landau said. "Sovereign debt has risen to levels unimaginable a decade ago with large industrial countries exceeding red-line levels of 100% of GDP."

    This crisis has been a different beast altogether, primarily because of the amount of stimulus that has been introduced into the economy. Congress has passed more than $5 trillion in pandemic-related stimulus so far. On top of that, the Fed has nearly doubled its balance sheet to almost $8 trillion.

    "There is a striking difference between today's response and that of prior financial crashes as today's stimulus dwarfs the response to the crises in 2008 and the 1930s. The current fiscal stimulus is more comparable with that seen around WWII. Then, U.S. deficits remained between 15-30% for four years. While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalised and pent-up demand was released," the Deutsche Bank economists stated. "This is why this time is different for inflation."

    The Deutsche team pointed out that the type of inflation that is coming could be similar to that of the 1970s — a decade that saw price growth average 7% and even rise to double-digits during certain times.

    At the time, then-Fed Chairman Paul Volcker battled high inflation with dramatic interest rate hikes, which led to a recession. And the report warned that this could be what's in store for the U.S. this time around as well.

    "Already, many sources of rising prices are filtering through into the U.S. economy. Even if they are transitory on paper, they may feed into expectations just as they did in the 1970s," the report said. "The risk then, is that even if they are only embedded for a few months, they may be difficult to contain, especially with stimulus so high."

    In the face of all this, the Fed has promised to keep its monetary policy loose until it reaches its full employment and inflation goals. And while the U.S. central bank remains patient in light of higher inflation, it might miss the opportunity to act in time, the German bank added.

    "The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act. In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets," the report explained. "Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended."

    In the meantime, U.S. Treasury Secretary Janet Yellen stated that President Joe Biden's $4 trillion spending plan should go ahead even if it sets off higher inflation that could last into next year and leads to higher interest rates.

    "If we ended up with a slightly higher interest rate environment, it would actually be a plus for society's point of view and the Fed's point of view," Yellen told Bloomberg on Sunday.

    Источник: https://www.kitco.com/news/2021-06-08/Economy-is-sitting-on-a-time-bomb-Deutsche-Bank-warns-of-devastating-effects-of-inflation.html

    Deutsche Bank Predicts Casino Sustainability as Pent-up Demand Dries Up

    The Deutsche Bank Gaming, Lodging, Leisure & Restaurant Conference in Miami has attracted a healthy bit of interest, CDC Gaming Reports wrote in a recent article noting down the highlights of the event. The publication estimates that the numbers of attendees were up 60% compared to 60%, making it one of the most significant expos for the industry in recent months.

    Deutsche Bank analyst Carlo Santarelli praised the interest in the conference and went on to explain the challenges companies and business operators will face in the coming months to achieve “sustained recovery.” Santarelli was confident that bookings would remain strong for next year.

    While there are some signals that look promising, casinos aren’t immediately looking to return to pre-pandemic levels, running at 70% of the 2019 workforce. However, most are going to push up for at least 85% compared to 2019. 

    Caesars Entertainment and The Mirage resorts have been perceived as positive signals of that recovery, Santarelli explained, and the return of high-yielding tables such as baccarat in the third quarter of the year was equally praised by the analyst. 

    Recovery in Sight, Costs Increasing to Sustain It 

    While recovery is clearly on the horizon, casinos are not yet in the clear. They have reported numerous issues that they would need to address, as confirmed by the analyst. According to Santarelli, wagers are inching upward as the United States workforce has been moving away from in-person jobs.

    Recruitment for casino staffers has become harder, and shortages have been prevalent. The supply chain has also been disrupted to the point where basic staples of the hospitality experience, such as food and drink, have been going up in terms of pricing. At the same time, businesses have been challenged to keep prices low to stimulate consumption. 

    However, the increase in wagers is expected to have a positive impact on Las Vegas locals gaming revenue, Santarelli explained. He cautioned that casinos should brace for a slowdown in revenue, as the pent-up demand is beginning to wear off, and highlighted the fact that many jurisdictions are pushing aggressively ahead with iGaming solutions, such as Michigan, Pennsylvania, and New Jersey.

    The Future of the Gambling Industry and Legalization

    Deutsche Bank has also spent time thinking through the implications of responsible gambling in future legalization efforts in the United States. According to the bank’s analysts, responsible gaming will play an essential role in spurring bolder legalization moves. 

    Meanwhile, manufacturers of physical gaming machines can expect a bit of a slow down in the second half of 2022. However, casinos are committed to purchasing new games to keep attracting fresh foot traffic on casino floors. 

    Land-based operators are still a little uncertain about how to treat the iGaming sector. Some have argued that it’s unlikely to see a rapid expansion of the sector, mostly because local legislators would be concerned about losing taxable income for the public purse.

    Others though suspected that the iGaming sector in the United States could number between 15 and 20 states as early as by the end of 2022.

    Источник: https://www.gamblingnews.com/news/deutsche-bank-predicts-casino-sustainability-as-pent-up-demand-dries-up/
    Monday July 8, 2019

    The overhaul, one of several over the past few years, signals that Deutsche is coming to terms with its failure to keep pace with Wall Street's big hitters such as JP Morgan Chase & Co and Goldman Sachs. The bank did not disclose a geographic breakdown of the job cuts.

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    news deutsche bank
    news deutsche bank

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