Dominic is a London-based columnist covering investment banking. Prior to Breakingviews, he spent two years at moneydealer ICAP, where he brokered equity derivatives trades between investment banks, high-frequency trading firms and hedge funds. He has more than five years of financial journalism experience, including stints as news editor and investment banking editor at Financial News. He has also written for The Wall Street Journal Europe. Dominic holds an MA in Classics from Oxford University and an MSc in Development Management from the London School of Economics. Follow Dominic on Twitter @DominicElliott
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Shares in Germany’s biggest bank rose 5 pct after new boss John Cryan pledged to get tough. The reaction looks overdone: the co-chief executive is sticking to the strategy and delaying details on cost cuts. The right tone helps, but there’s no easy fix for Deutsche’s troubles.
The European Commission says its new internet access rules are the world’s strongest. A carve-out for high-quality services might be abused: definitions of specialised content will shift as technology advances. Still, Europe’s nod to the web’s commercial realities is welcome.
The German regulator’s review of the lender’s Libor affairs has accused outgoing co-CEO Anshu Jain of lying. Jain rejects the allegation as baseless, says Deutsche. But the resulting tension would have made it difficult for him to stay on.
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- UK’s imperfect bank pay rules still pack a punch
- SocGen's asset management exit could prove shrewd
- Lloyds CEO ring-fences rivals with reform praise
- Wall Street lead over EU banks looks set in stone
- UK strikes right balance on bank/taxpayer pain
- Anshu Jain's painful lessons for new Deutsche boss