March 22, 2019 / 11:30 AM / 2 months ago

Deutsche-Commerzbank tie-up should not create big investment bank: BlackRock

FRANKFURT (Reuters) - The aim of a potential merger between Deutsche Bank and Commerzbank should not be to create a large investment bank because that “will not work”, a major shareholder in both banks said on Friday

“What problem are we trying to solve here? ... That part is yet missing from this discussion,” Philipp Hildebrand, the vice chairman of U.S. investment group BlackRock , who was speaking at a conference in Frankfurt, said.

“The one thing that I’m convinced will not work is ... if the objective in this operation is to try yet again to create a large, U.S.-inspired investment bank operation.”

Reporting By Francesco Canepa. Editing by Jane Merriman

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