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JP Morgan CEO says has no interest in buying Deutsche Bank: Handelsblatt

Posted by: Admin | Posted on: November 1st, 2018 | 0 Comments

FRANKFURT (Reuters) – JP Morgan (JPM.N) has no interest in buying Deutsche Bank (DBKGn.DE) the U.S. bank’s chief executive told German daily Handelsblatt.

“It would not make any sense,” Jamie Dimon told the paper. “If you only buy a company just to consolidate it, it is almost impossible to do without killing the patient.”

Dimon told the paper that consolidation among Europe’s banks could make sense, and appealed for a common deposit insurance scheme in Europe.

Dimon’s remarks about Deutsche come on the same day that activist investor Hudson Executive Capital, led by JP Morgan’s former Chief Financial Officer, took a 3.1 percent ownership stake in Germany’s flagship lender.

Reporting by Edward Taylor; Editing by Alexandra Hudson

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