As Chief Executive of Deutsche Bank, John Cryan presently has one of the most challenging jobs in the banking industry. Nevertheless the former UBS finance head comes across as surprisingly relaxed and open.
«How dangerous is Deutsche Bank?» (in German) This is a question being investigated by reporters from the regional German TV station Hessischer Rundfunk, and to which the head of the Frankfurt-based bank John Cryan provided the following clear and frank answers in an Interview. These are Cryan's most important replies:
1. On Headlines Describing Deutsche Bank as the Most Dangerous in the World
The headline originates from an assessment by the International Monetary Fund (IMF). Someone has translated «risk and connectedness» as «dangerous», which is quite «friendly», Cryan adds.
«I don't have the sense that we're dangerous.» Deutsche Bank is very aware of the risks which it takes in fulfilling its role in the community. «And I think we do that well.»
2. How He Became a Banker
«I somehow just landed here.» It wasn't a conscious decision. «Banking was never a dream of mine.»
3. What He Likes About Being a Banker
Banking has attracted the most brilliant minds in the western world, according to Cryan. He enjoys working with such people and meeting customers. This brings variety. «I've never had a dull moment.»
4. On His Crisis Talks With Chancellor Angela Merkel
They were factual and honest. «I didn't hide any of the problems», said the Briton. «But I also explained what opportunities we have to bring the bank back to where it once was. In the heart of Germany.»
5. On the Seemingly Endless Series of Scandals and Mistakes at Deutschen Bank
They were for him a «great disappointment» – especially when colleagues behaved in this way.
6. On Bank Salaries and Bonuses
For Cryan, who up to now has declined any bonus at Deutsche Bank, adjustments in the compensation system are one way for banks to regain the confidence and trust of customers. «I think payments, when they aren't appropriately applied, can trigger motives which work against the interests of the community», said Cryan.
Nevertheless he believes in the markets, and there is a market for talents, who are employed in the banking sector. «To ignore this market is stupid.» Bonuses could be an important factor in tying people to the bank, in keeping and to an extent in helping to motivate them, according to Cryan. Still, this can't be the only motivation.
«We need to build a vision for the bank. We must create a culture for the bank in which people enjoy working».
7. His Relationship to a Public Role
To be in the public spotlight is part of his job. However he doesn't always enjoy it. «I prefer to be a more private person», the 57-year-old said.
8. His Relationship to Luxury
He can lead a luxury life. But Cryan says he's also happy as he is. He doesn't spend a lot of money and his hobbies don't cost much money. «I enjoy sailing, but in small not large boats,» he adds, as someone once known for only buying second-hand cars.
9. What Deutsche Bank Will Look Like in Five Years
On this issue Cryan remains true to his low-key reputation. «I don't see the bank very differently from what it is now», he said. The base of Deutschen Bank will remain in Germany, where is has 20 million customers. The backbone of Deutsche Bank is its internationality, since its function is to support German clients in their global expansion efforts.
«So we have to be active in the important financial centres. Also in developing countries, and especially in China.»
