BusinessCompany NewsSenior chief in transparency call

Senior chief in transparency call

Josef Ackermann's private speech at LSE is to be circulated to banking regulators and key clients

Deutsche
Bank’s
CEO has made a call for greater transparency and off-balance sheet
disclosure to curb the loss of investor confidence in complex finance.

Josef Ackerman told an audience at the London School of Economics that the
banking industry’s operations and regulatory system needed to be reviewed.

He said that banks had to make complex structured products – such as mortgage
securities – more transparent so as to reduce investors’ dependency on the
ratings of credit agencies, the
FT
reported.

‘Improved transparency is decisive, including disclosure of off-balance-sheet
exposures, such as structured investment vehicles,’ said Ackermann.

The bank is believed to be circulating Ackermann’s private speech to key
clients and regulators, as it marks efforts made by senior individuals behind
the scenes to manage the credit squeeze and the most
high-profile call for reform.

Further reading:

Deutsche
Bank CEO calls for greater investment bank transparency

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor