Shares in Deutsche Bank were soaring Friday on the news of a $7.2 billion settlement with the U.S. Department of Justice on the mis-selling of mortgage-backed securities during the global financial crisis, but analysts have warned that the bank needs more money and the right people on board.
"CEO John Cryan may think he did everything right and Santa Claus came especially early to him today and to the board members. But that is my biggest my concern more than ever," Stefan Mueller, chief executive officer of DGWA told CNBC Friday.
Mueller further added that the bank needs more money and also get more responsible people on board.
"I personally think that they need to get some people off board as well because I do not think that the responsible people within Deutsche Bank have ever realized that there are huge challenges in the banking sector in general, regulations and all these things," Mueller said.