Bankers echo quarterly reporting concerns

Link: Investment leaders slam quarterly reporting

Josef Ackermann, chairman of Deutsche Bank’s group executive committee, and John Thain, president and co-chief operating officer at Goldman Sachs, have both voiced their concerns at the value that quarterly reporting would bring.

Ackermann said that the introduction of these measures would encourage ‘short-termism’, which was one of the issues that led to ‘corporate misbehaviour’.

Echoing such comments Thain said analysts should focus on companies that offer long-term success adding that the world’s best investors would not invest based on quarter-to-quarter earnings.

The comments follow a joint statement from the Association of British Insurers and its French equivalent, which highlighted similar concerns over the EU’s proposals.

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