New banking champion is needed in Europe

Both of the banks that currently vie for the title of Europe’s biggest investment bank – Germany’s Deutsche Bank and Barclays of the UK – are in retreat.

But sometimes the best opportunities come from going against the tide. There’s an opening for some brave soul to create a European champion at a time when other financial institutions are exiting markets, laying off staff and shrinking their businesses.

Deutsche Bank is shuttering its operations in 10 countries and cutting 26,000 jobs in the next three years, scrapping its dividend for two years and seeking to cut costs by €3.8bn.