Deutsche's big gamble

摘要

Another big bank merger is hardly the stuff to set pulses racing these days. But the ?30.8 billion ($29.5 billion) takeover by Deutsche, Germany's biggest bank, of Dresdner, its third-biggest, announced on March 9th, is no run-of-the-mill deal. It shows how fast German industry and finance is changing—but also how slowly. For the banks are taking a huge gamble that, together, they can succeed in an area in which they have previously found only modest success: investment banking.