The head of Deutsche Bank: U.S. banks emerge from the crisis stronger than the European

Rate this year, which expired after the bankruptcy of U.S. investment bank Lehman Brothers, - such a task set ourselves a number of managers of large international financial institutions is at the forum in Frankfurt. People are mistaken who is looking for reasons for success or failure in business models, says Deutsche Bank chairman Josef Ackermann.

For whatever the scheme, banks do not work, and everywhere there were those who win and those who lose. Even no need to search for example: investment bank Lehman Brothers went bankrupt, but Goldman Sachs, by contrast, emerged from the crisis even more powerful. This applies to purely commercial banks or financial institutions is working on the hybrid scheme, like Citibank, which, incidentally, has been hard hit by the crisis. But the case in JP MorgansChase continue to go well.

Ackerman takes off his hat to the pragmatic crisis managers of Americans who did not shun the consolidation of the banking landscape. Therefore, I am convinced the head of Deutsche Bank, they are the ones who benefited from the crisis. "This appeared larger and more powerful banks in Europe, however, in my opinion, the consolidation was significantly less. With the help of public money, we supported the weaker banks and, as regards the structure of the banking landscape, now stand where there were before the crisis" - said Ackerman.

At the same time, the German top manager admitted that the Americans acted on the basis of much more powerful internal market. He believes that a strong position at home is an important prerequisite for success at the global level. In addition to improving our position in the domestic market, the success is also important to have a solid financial base and good management of risks. According to him, today, Deutsche Bank operates considerably more cautious than before the crisis.

Also chairman of the Supervisory Board of the British bank HSBC Stephen Green called the credit and financial institutions to rethink their activities. He believes that banks should have a better understanding of the importance of their role and their responsibility in the economy and society and be more balanced in its decisions. "If this crisis will lead to truly new assessment tasks to be performed by firms and banks in a market economy, then it will be one of the most important milestones in the history of modern economics" - "Green said.

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