After a decade of silence, the time had come to be more open about problems lurking within its balance sheet.Ĭhristian Sewing, the current boss of the bank who was then number two, announced that management would focus on cleaning up such loss-making legacy trades.
The positions, which included long-dated derivatives struck before the crisis, were losing hundreds of millions of euros a year. Two years ago, Deutsche Bank decided to come clean about €60bn of legacy trades that were bleeding money for the bank.
