BERLIN, May 19 (Xinhua) -- Germany's largest financial institution was preparing for major changes in the global banking sector in the nearer future, Christian Sewing, Chief Executive Officer (CEO) of Deutsche Bank, said in his speech published on Wednesday in advance of the annual general meeting.
"Size is becoming even more important in the financial sector," said Sewing. The bank's tasks ahead would require "enormous investments in technology" as globalization was becoming more complex.
Sewing is expecting a "high demand for financing" and for wealth preservation. Also, there would be progress regarding sustainability in the finance sector which was "more than just a trend" as business and society were undergoing fundamental transformation.
Global networks would become more crucial for the success of a financial institute. "At the same time, it will be much harder to maintain this network if international economic and trade policies have less in common and provoke more conflicts," warned Sewing.
Only few banks would be able to preserve their global network, also due to the required investments in technology. However, by "applying the capabilities of modern data analysis and artificial intelligence to financial issues," there was a potential to increase revenues, Sewing said. Enditem
