Wrong call: the bet that cost Anshu Jain his job

摘要

Anshu Jain underestimated the bite of new banking regulations installed after the financial crisis, and the misjudgement ended up costing him his job. When he and Juergen Fitschen took over as co-CEOs of Deutsche Bank in May 2012, Jain - then considered by many as one of the most successful bankers of his generation -assumed that the worst of the post-crisis regulatory onslaught was over. Even as others were slashing the size of their banks in the face of stringent new capital rules, the two did little to rein in Deutsche's immense balance sheet, which was a staggering €2trn -bigger than that of any of its rivals and indeed larger than the annual economic output of most of the nations of the world.