Deutsche Bank CEO: Bank Rules Should Be Global
President Barack Obama's plans to impose new regulations on the U.S. banking industry needs to be coordinated on a global level, said Deutsche Bank CEO Josef Ackermann, chief executive
"We're in a global market and we need consistent global rules," Ackermann said in an interview with CNBC at the World Economic Forum meeting in Davos, Switzerland.
"If you have more regulation in the regulated sector, businesses may move to the unregulated and I'm not quite sure if this is in the interest of financial stability as a whole."
Ackermann also said Deutsche Bank and others in the industry are better capitalized, but added that "we need more capital in the industry, I'm very much supportive of that. "
"The question is how we implement it and how we define it," he said.