Testing His Mettle:Deutsche Bank's New Asian Star

If ever there were a time for clarity of thought in European banking,it is today.We are nowhere near a run on the banks,according to Anshu Jain,incoming Co-CEO of Deutsche Bank.The real issue in Europe is about sovereign debt,starting with Greece.We've got capital-lots more;liquidity-lots more;it's gonna be harder under the new regulations.We're really happy with our U.S. franchise.I'm confident we'll hit all capital targets.It's way too early to do a post-mortem on the JP Morgan trading problem.It's very important that we restore the credibility that has been lost.I don't think there are any easy answers.We did let a lot of people down,and now we have to make up for that.At this point,it's organic capital accretion at Deutsche Bank.We are reasonably constructive on many asset classes,but our main concern is our clients,not acquiring assets.Getting it right in our home market and continuing to grow in the emerging markets and the U.S.,in that order,are our priorities at Deutsche Bank,the native of Jaipur,India made clear.Mr.Jain and Juergen Fritschen assume the reins of leadership at Deutsche Bank from Josef Ackermann on Thursday at the annual shareholders' meeting in Frankfurt.At 49,Mr.Jain is one of the most prominent business leaders of Indian origin,having received an economics degree at Dehli University,and an MBA at the University of Massachusetts Amherst.He was head of global corporate and investment banking at Deutsche Bank prior to his new appointment,with considerable success.He will certainly need every talent he has in the difficult climate that prevails in European finance at the present time.Deutsche Bank(DB)