Deutsche Bank's Sewing says he's laying groundwork for deals

Christian Sewing, chief executive officer of Deutsche Bank, during the bank's full year earnings news conference in Frankfurt on Jan. 30, 2020. Foto: Bloomberg/Peter Juelich

Deutsche Bank must be ready for possible acquisitions once consolidation in European banking accelerates, Chief Executive Officer Christian Sewing said, the clearest hint yet that he's considering deals again halfway through his four-year turnaround program.

Size is becoming "even more important" in the financial industry because globalization is becoming more complex and technological advances require large investments, Sewing said in a speech prepared for Deutsche Bank's annual general meeting next week that was released on Wednesday...

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