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| "After Basle III you will need to be a dominant firm in terms of market share to make adequate returns" |
In banking, they say that retail is detail. Anshu Jain’s attention to detail would perhaps have served him well in retail banking, had his career followed a different path.
But a different catchphrase could be employed to explain how Jain is measuring the performance of Deutsche’s corporate and investment bank (CIB): investment banking is ranking.
When Jain became sole head of the division, which generates the clear majority of Deutsche’s group profits, he undertook a thorough analysis of how the firm rated in all the key classes of investment banking and markets.
Using rankings provided by such data providers as Euromoney, Greenwich Associates and Coalition, Jain identified 64 key business areas – the number of squares on a chess board – split by both product and geography.
Out of those, his analysis showed, Deutsche ranked in the top three in 35 categories – equal first with its closest competitor.
Fixed-income and currencies
But it’s the momentum that Deutsche has generated that perhaps pleases Jain the most.