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JP Morgan CEO says has no interest in buying Deutsche Bank: Handelsblatt

Published 11/01/2018, 03:46 PM
Updated 11/01/2018, 03:50 PM
© Reuters.  JP Morgan CEO says has no interest in buying Deutsche Bank: Handelsblatt

FRANKFURT (Reuters) - JP Morgan (N:JPM) has no interest in buying Deutsche Bank (DE:DBKGn) the U.S. bank's chief executive told German daily Handelsblatt.

"It would not make any sense," Jamie Dimon told the paper. "If you only buy a company just to consolidate it, it is almost impossible to do without killing the patient."

Dimon told the paper that consolidation among Europe's banks could make sense, and appealed for a common deposit insurance scheme in Europe.

Dimon's remarks about Deutsche come on the same day that activist investor Hudson Executive Capital, led by JP Morgan's former Chief Financial Officer, took a 3.1 percent ownership stake in Germany's flagship lender.

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