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Shuffling the deckchairs on the Titanic? The appointment of a dyed-in-the-wool retail banker as head of Deutsche Bank is at best a pointless exercise in the bank’s continuing search for a new identity in the post-2008 financial landscape. At worst it suggests a bank heading in completely the wrong direction. Read what he thinks here: https://www.economist.com/news/finance-and-economics/21740428-process-selecting-him-shows-bank-still-lacks-clear ABOUT POST AUTHOR Daniel Davies Senior Research Adviser

Einstein’s definition of insanity was doing the same thing over and over again and expecting a different result. Dan Davies outlines why Deutsche Bank’s appointment of a retail banker as CEO of what is effectively an investment bank is the latest outbreak of corporate insanity in the European financial sector. The most egregious recent example was appointment of Anthony Jenkins as CEO of Barclays plc earlier in the decade. However some might say the template for this go-to management manouevre was crafted as far back as the late 1980s and the UK banks’ reaction to meltdown in their newly-established investment …