Bouncing back: The headquarters of Germany’s Deutsche Bank in Frankfurt. The country’s largest bank is moving in the right direction after years of crisis. — Reuters
FRANKFURT: On the day before one of the biggest margin calls in history, Deutsche Bank AG chief Christian Sewing joined an urgent meeting with a not-unfamiliar message: there was a problem, and billions of dollars were at stake.
But as executives on the late-March call briefed him on the bank’s exposure to Archegos Capital Management, this time it wasn’t all bad news.
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