Deutsche Bank hires Alan Greenspan

13th August 2007, Comments 0 comments

13 August 2007, Frankfurt/New York (dpa) - Deutsche Bank said Monday it had hired Alan Greenspan, the 81-year-old economist who headed the US Federal Reserve for 18 years and is seen as one of the most successful chairmen of all time of the Fed's board of governors. Deutsche Bank chief executive Josef Ackermann described Greenspan as one of the "architects of the modern financial system" in announcing the appointment. Greenspan would "provide ongoing advice and insight to Deutsche Bank's investment banking

13 August 2007

Frankfurt/New York (dpa) - Deutsche Bank said Monday it had hired Alan Greenspan, the 81-year-old economist who headed the US Federal Reserve for 18 years and is seen as one of the most successful chairmen of all time of the Fed's board of governors.

Deutsche Bank chief executive Josef Ackermann described Greenspan as one of the "architects of the modern financial system" in announcing the appointment.

Greenspan would "provide ongoing advice and insight to Deutsche Bank's investment banking team and its clients by sharing his perspective and opinions on a range of issues affecting markets," Ackermann said.

Greenspan said: "Deutsche Bank has a world-leading investment banking franchise and is a major player in wholesale financial markets."

He added he was looking forward to adding his perspective on the world economy to Deutsche Bank's and to helping the bank advise its clients.

After leaving the Fed at the end of January last year, Greenspan, who was regarded as an oracle of Delphic insight during his tenure at the Fed, started a consultancy.

According to the Wall Street Journal on Monday, Greenspan did not want to advise Deutsche Bank on asset management, as he already works in this role for Pacific Investment Management (PimCo).

The former Fed chairman did not want more than a dozen clients and only one in each financial sector, according to the newspaper.

AP

Subject: German news

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