Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Deutsche Bank's European mortgage finance head departs amid strategic shift

Published Nov 06, 2023 22:42
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
DBKGn
-0.27%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Frederic de Benoist, Deutsche Bank's managing director and head of mortgage finance in Europe, is making an unexpected departure ahead of the annual bonus period. The bank has yet to disclose the specifics surrounding de Benoist's exit.

This development comes in the wake of Deutsche Bank's disappointing third-quarter financial results and a strategic shift towards stringent cost management. Despite these challenges, the credit business division where de Benoist was stationed demonstrated superior performance compared to other sectors of the bank.

De Benoist, a graduate of France's Edhec business school, has had a tenure at Deutsche Bank spanning over two decades. His exit could potentially signal further team reshuffling within the bank. This speculation is supported by Deutsche Bank's significant recruitment drive in 2022, where they bolstered their credit business by hiring senior executives from Credit Suisse, including Johnny Moore, the former head of credit.

InvestingPro Insights

Amidst the managerial shifts and strategic changes at Deutsche Bank, it's crucial to consider some key financial metrics and insights from InvestingPro.

InvestingPro Tips highlight that Deutsche Bank, coded as DBKGn, has consistently increased its earnings per share and is currently trading at a low Price/Book and earnings multiple. Analysts have revised their earnings upwards for the upcoming period, indicating a potential for growth. Despite some weak gross profit margins, the bank remains a prominent player in the Capital Markets industry and has been profitable over the last twelve months.

InvestingPro Data provides some real-time metrics that further illustrate the bank's financial standing. As of Q3 2023, Deutsche Bank boasts a market cap of 22879.26M USD and a P/E ratio of 4.58. The bank's revenue for the last twelve months stands at 28722.91M USD, reflecting a growth of 7.0%. The bank's operating income margin was 23.62% over the same period.

It's worth noting that InvestingPro offers many more tips and real-time data metrics that can provide deeper insights into Deutsche Bank's performance. These insights can be invaluable for anyone interested in understanding the bank's financial health and future prospects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Deutsche Bank's European mortgage finance head departs amid strategic shift
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email