Investment giant takes major stake in Deutsche Bank

first_imgThursday 6 February 2020 10:39 am Deutsche Bank has welcomed Capital Group as a major shareholder after the Los Angeles-based investment giant has bought a 3.1 per cent stake in the German bank.  “We are happy about the interest in our company, especially from shareholders with the track record and credibility of Capital,” a Deutsche Bank spokesperson said. Share Deutsche chief executive Christian Sewing has vowed to ‘go on the offensive’ in 2020 (Getty Images) Also Read: Deutsche Bank adds investment giant Capital Group as major shareholder by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsOceandraw29 Gorgeous NASCAR Wives & Girlfriends, Don’t Miss #9OceandrawAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailStuff AnsweredThe New 2021 Acura’sStuff AnsweredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyZen HeraldShe Inspired Three Of The Most Popular Songs EverZen Herald whatsapp The investment, disclosed in a regulatory filing, makes Capital — which managed $1.8 trillion— one of Deutsche’s largest shareholders. Deutsche Bank adds investment giant Capital Group as major shareholder More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com The lender’s shares rose as much as 5.1 per cent in morning trading in Frankfurt following news of Capital’s investment.  Anna Menin The next largest investor is Blackrock with 4.49 per cent, and Hudson Executive Capital with 3.14 per cent. center_img Capital Group declined to comment on the investment. Capital Group previously owned a stake in Deutsche a couple of years ago but then sold it, Reuters reported, citing a person with knowledge of the matter. Capital decided to go in again at the end of last year, they said, speaking on condition of anonymity. Deutsche chief executive Christian Sewing has vowed to ‘go on the offensive’ in 2020 (Getty Images) Deutsche chief executive Christian Sewing has vowed to ‘go on the offensive’ in 2020 (Getty Images) Also Read: Deutsche Bank adds investment giant Capital Group as major shareholder Show Comments ▼ whatsapp It also marks the first major new shareholder in over a year for the bank, which has posted steep losses in recent years, and a new supporter for chief executive Christian Sewing’s turnaround plan for the lender.  Late last month, he vowed to “go on the offensive” in 2020, despite restructuring costs pushing Deutsche to its largest annual loss in five years.  Deutsche Bank’s shares had fallen to record lows last year, but have risen 25 per cent in 2020 so far.  Sewing unveiled his ambitious restructuring plans for Deutsche last July, and updated investors on progress in December.  Tags: Deutsche Bank Deutsche Bank’s largest shareholder remains the Qatari royal family, with a combined stake worth at least 6.1 per cent, according to the bank’s website.last_img