John Cryan: "Never write off London as a financial center"
John Cryan provided his unique perspective on Europe at the opening of Deutsche Bank’s 7th Annual Global Financial Services Conference in New York on Tuesday, May 30.
“Europe will continue to be the biggest bloc” for Deutsche Bank in terms of revenue and earnings, Cryan said. “But having such a strong business in the US provides us with insight into both the US economy and the European economy, and the flows between them.”
Cryan also said he would never write off London as a financial center. “It’s the source of where a lot of capital resides,” he said.
The CEO later participated in a keynote conversation with Lawrence D. Fink, the Chief Executive of BlackRock.
During the discussion, both leaders discussed the importance of technology innovation in financial services. Cryan said, “Technology in banking is the deciding factor. We have to focus on this a bit more.” Fink agreed and said using technology is critical for investors and for being more connected with clients.
The two-day conference includes panel discussions with thought leaders from the financial industry as well as presentations by senior executives representing over 70 leading global financial services companies from more than a dozen countries. One-on-one meetings are also being held. Keynote addresses include David Solomon, President and Co-COO of Goldman Sachs, Marianne Lake, CFO of JPMorgan Chase and John Shrewsberry, CFO of Wells Fargo.