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Money Talks from The Economist

Money talks: Iceland's return

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 9 June 2015

⏱️ 7 minutes

🧾️ Download transcript

Summary

Sweeping changes at Deutsche Bank and HSBC and Iceland's capital controls are lifted, delicately

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Transcript

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0:30.0

The Economist.

0:33.4

From The Economist in London, this is Money Talks, a weekly conversation around themes in business, finance and economics.

0:45.8

I'm Stan Pinyal, the banking editor, and joining me this week is Edward McBride, who edits the finance and economics section. This week we will look at Troubles at

0:54.4

Deutcha Bank and H.S. B. C. and Iceland's capital controls.

0:57.8

Edward, it's been a busy week for global banks with de-Fenestrations at Deutcha

1:01.9

and a strategy update at HSBC.

1:04.3

That's right, this huge upheaval.

1:06.2

Deutsche Banks co-ceeos, Antschoo Jane and Jorgen-Fitchin,

1:11.2

have both announced their resignations, a sort of staggered resignation,

1:15.6

takes place over a year.

1:17.3

And she Jane going first, Jorgon Fitchin going next year.

1:20.0

That was all a huge surprise because Deutcher had only very recently unveiled a new strategy and

1:25.2

it was thought that in particular Ant should Jane was going to lead the implementation of that strategy.

1:30.2

So everyone was taken back over the weekend when the resignations were announced and now this week we have

1:35.9

HSBC announcing yet more detail on what seems to be a sort of many year-long review of its operations, pairing down both staff and

...

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