Deutsche Bank boss: Sewing did not know anything about takeover plans from Wirecard

economy Deutsche Bank boss

Sewing was unaware of any takeover plans from Wirecard

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FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt

The CEO of Deutsche Bank, Christian Sewing, only found out about the takeover plans from Wirecard in the summer

What: REUTERS

Christian Sewing only found out about Wirecard’s takeover plans in summer 2020 through a media inquiry. He said that in the investigative committee of the Bundestag.

Dhe CEO of Deutsche Bank, Christian Sewing, said he knew nothing about the takeover plans of the scandalous company Wirecard. He only found out about the “Project Panther” in the summer of 2020 through a media inquiry, Sewing said on Friday night in the Wirecard investigation committee of the Bundestag. A few months before the accounting scandal broke up, the top of the Dax group Wirecard had the idea of ​​taking over Deutsche Bank and had this checked by a consulting company.

Wirecard boss Markus Braun only spoke to him at the beginning of 2019 about whether it would make sense to work together in individual areas, Sewing said. Braun saw the future of Deutsche Bank as a tech company with affiliated banking business. However, the idea was not very specific and “hypothetical”. If you had known about takeover plans at this point, you would not have spoken to Wirecard about such a project.

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Sale of the core business

Deutsche Bank also participated in loans for Wirecard – and, according to Sewing, lost around 18 million euros due to the balance sheet fraud. The manipulation could not be seen in the usual checks of the bank, said the CEO. In such situations, the bank depends on being able to rely on annual financial statements, for example.

Sewing emphasized that the accounting scandal had cast a bad light on Germany as a financial center. He called for supervision to be strengthened.

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The Dane’s numbers don’t lie – 11FREUNDE

The downward trend of FC Schalke continues. Despite a new coach, little seems to have changed in 2021. Most recently it was a 3-0 defeat at Hertha BSC. There was, however, a change in the goalkeeper position. While Manuel Baum was still betting on Frederik Rønnow’s loan from Frankfurt, the new coach Christian Gross decided on Ralf Fährmann for the T-question.

For almost ten years the position of goalkeeper has been one of the most volatile at Schalke. While in the first few seasons after Manuel Neuer’s departure it seemed that everyone with Reusch gloves would be let into the goal, the number of goalkeepers used has at least been reduced a little in recent years.

Statistically, no goalkeeper is as bad as Fährmann

Ralf Fährmann established himself as number one in the royal blue for several years. Reason enough for Gross to trust him from now on based on this experience. But this decision could have far-reaching consequences for Gelsenkirchen.

Statistically speaking, no goalkeeper is as bad as Ralf Fährmann this season. None of the goalkeepers used in the Bundesliga has a lower defense rate than the 32-year-old. Of the 38 shots he received on his goal up to matchday 14, he saved just 20, according to fbref .com.

Sure, the quality of the shots is not taken into account in these figures, which is why it is worth taking a look at the PSxG values ​​(Post-Shot Expected Goals). These tell you how likely it is that a keeper will save a shot or not. So they are a good indicator of the quality of the saves a keeper has shown.

Ferryman doesn’t do well here either. Statistically, he has conceded 6.1 more goals than expected to date. With the ferryman in goal, Schalke had to accept almost one goal more than necessary.

Statistically, no goalkeeper is as good as Rönnow

Incidentally, this has nothing to do with the fact that the Royal Blues are constantly on the defensive and Ferryman the poorest pig ”in the field. His colleague Frederik Rønnow is exactly at the other end of this spectrum.

Statistically speaking, no goalkeeper prevented more goals than the Dane (2.3) and no other goalkeeper in the Bundesliga has a higher rate of saved shots (78 percent) up to matchday 14. To put it in a nutshell: Schalke have been better with Rønnow and scored three draws with the Scandinavian in goal. But the loan is not only statistically ahead of the experienced Schalke ferryman, but also in the classic goalkeeping virtues.

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Deutsche Bank: Part of the bank merger – but not as a junior partner

economy New optimism

Deutsche Bank ready for merger – but not as a junior partner

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FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG in Frankfurt, Germany January 30, 2020. REUTERS/Ralph Orlowski/File Photo FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG in Frankfurt, Germany January 30, 2020. REUTERS/Ralph Orlowski/File Photo

Christian Sewing, head of Deutsche Bank, sees his house in the fast lane again and wants to play at the forefront in the future

What: REUTERS

Consolidation is progressing, says bank manager Christian Sewing. As a result, the institute will soon be able to participate in a possible European bank merger – and in a decisive position.

VCEO Christian Sewing sees Deutsche Bank on course to play an active role in a possible consolidation of the European financial industry. “In comparison, we are always better off and thus create the conditions that we will sit at the table in the event of a possible consolidation of the European banks – and not just as a junior partner,” he said in an interview with WELT AM SONNTAG.

“That must be our claim, and that is also important for Germany. For financial services, it would be a strategic mistake to depend primarily on imports. ”Until 2022, the focus will be on transforming the bank. “But every quarter that we’re doing it makes us stronger,” said Sewing.

In business with private and corporate customers, the bank is “absolutely on target” in terms of income and costs. The bank was able to largely compensate for the burdens caused by lower interest rates and higher risk provisions. “Our corporate bank, for example, was in great demand during the crisis, even with companies that were not previously our customers,” said the Deutsche Bank boss.

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Regarding the investment bank’s recent strong figures, Sewing said: “I am very proud that we are now working even more successfully here than we originally expected.”

In coping with the consequences of the corona pandemic, politicians should put targeted impulses “as soon as possible” instead of direct help for a wide range of companies. “We have to move from simply managing the crisis to shaping the future,” demanded Sewing. Laying the foundations for future growth now is the best way to pay off debts.

Especially when it comes to converting to a greener economy, Germany and Europe would have a head start. An “integrated capital market” is required to finance the transformation.

You can read the entire interview in WELT AM SONNTAG. We are happy to deliver them to your home on a regular basis.

Packshot_WamS_S1_für_N24

Source: Welt am Sonntag

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Rule in the corona pandemic: “It was always in the room that there could also be moments of tipping”

WITHu The gentle government techniques, as Ulrich Bröckling calls it, include “nudging”: In the school canteen, healthy food is placed at eye level, in the hope that the students will reach for the apple and not for the sweet pudding that can be found below Regal finds. They are “nudged”, but the students still decide what to eat. Bröckling has written numerous essays on government techniques of this kind.

WORLD: A not entirely benevolent observer would come to the conclusion that appeals to self-responsibility and discipline arise when solutions at the ordinance level are not capable of consensus. In mid-November, for example, when there was a palace revolt in the Corona cabinet, one had the impression that Ms. Merkel would have preferred to “rule through”.

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Christian Drosten: The question of guilt – WELT

GIs the dispute about the correct Corona policy, which rages more and more violently the longer the crisis lasts, about facts? This is how the Chancellor portrayed it last week when she spoke out sharply against all those positions that had left the “world of facts”. However, it is also part of the world of facts to question the course of the federal government, whose weaknesses in the protection of risk groups can be seen in the daily death statistics.

Now, of all people, Christian Drosten, the most important informant of this government course, has written a tweet that shows that it is about much more than just the bare facts.

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Once again, Elena Odriozola is a candidate for the Hans Christian Andersen Awards

This year they have also selected the work of the illustrator Elena Odriozola. IBBY, a non-profit organization for international youth books, has announced nominations for the 2022 Hans Christian Andersen Awards; There are 62 from 33 countries. Among them is the Basque illustrator.

The proposal has been made by OEPLI – the Spanish Organization for Children’s and Young People’s Books – in collaboration with the Galtzagorri Association and with the support of the Etxepare Basque Institute. Along with Odriozola, Catalan writer Jordi Sierra i Fabra is among the nominees for the 2022 awards.

The Andersen Prize is the most important prize in the field of children’s and young people’s literature. This is not the first time that Odriozola has been among the candidates. This year, for example, the Basque illustrator was not only a candidate but also a finalist. In fact, IBBY presents the list of candidates first and then passes the screening, and announces the list of finalists. The next Andersen Awards will be presented in 2022. The list of finalists will be announced in January 2022 and the names of the winners will be announced in March-April of the same year, at the Bologna Fair.

The Galtzagorri Association has nominated Elena Odriozola for the Andersen Awards, among other things because her work considers her contribution to children’s and young people’s literature to be essential.

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Football: The TV billions are being redistributed in the Bundesliga

Sport Soccer

In the Bundesliga, the TV billions are being redistributed

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DFL: More equal distribution thanks to Corona

The DFL is taking into account the effects of the corona pandemic in its new distribution key for TV money up to the 2024/25 season. In the coming season, more than half of the money generated will be distributed equally.

Big changes are coming to the Bundesliga. The money from the TV contracts should be distributed more fairly in the short term. DFL boss Seifert only sees the financial storm coming: “Last season was a mild breeze.”

Dhe TV billions will in future be distributed more evenly among the 36 clubs in the Bundesliga and 2nd division. With the new regulation of the distribution key for the around five billion euros in marketing income, the German Football League wants to cushion the effects of the corona pandemic in the next two seasons, said league managing director Christian Seifert on Monday in Frankfurt am Main.

In the two years thereafter, the performance concept, the promotion of young talent and the interest in the respective clubs should be weighted more heavily.

The basis for the distribution from the marketing of national media rights in the 2021/22 to 2024/25 seasons is a new four-pillar model. The category “equal distribution” accounts for 53 percent of the income in the first two years, after that it is still 50 percent.

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“Critical Mistakes”

The performance of the past five seasons is weighted initially at 42 percent, then at 43 percent. According to the DFL, the remainder is made up of the pillars “young talent” and “interest”. The international proceeds will also be distributed according to a new key that aims to end the recent dispute among clubs.

“The spread is guaranteed to decrease nationally and internationally,” said Seifert, but added: “Reducing a spread between Bavaria and Bielefeld by giving Bayern five million less and Bielefeld five million more does not make the championship more exciting. “

“Clubs have done too little at the front of player salaries”

The Bundesliga would face further severe cuts, said Seifert. Including last season, the clubs will lose around two billion in sales by the 2021/22 season: “Last season was at best a mild breeze, but now the storm is coming.”

“Most difficult season” for German football

DFL boss Christian Seifert swears German professional football to an enormously tricky season. “The organization and implementation of this season will be many times more complicated than the end of the last season,” says Seifert. All those involved need a “maximum amount of energy” to cope with the coming season.

He warned the clubs to further reduce player salaries in the Corona crisis. “One or the other club will have to continue working on its cost base. I’ve now seen the balance sheet, “said Seifert:” Some clubs have done too little in terms of player salaries. “

In order to have a better perspective, the DFL is examining the entry of international financial investors. There should be talks from February. “If the clubs should decide to do so, it will not be because you need short-term money now, but because you want to be better positioned for the time after the Covid pandemic,” said Seifert.

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The investor question is about the sale of shares in a DFL subsidiary for international marketing. The DFL had already announced that it would prepare information meetings with companies from the private equity sector interested in minority interests.

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New money rain? Investors are knocking on the Bundesliga

Soccer Up to 20 interested parties

New money rain? Investors are knocking on the Bundesliga

| Reading time: 3 minutes

At the meeting of the clubs on Monday, however, the future distribution of the TV money will also be discussed

The meeting of the clubs on Monday will also deal with the future distribution of the TV money

Source: Getty Images / Alexander Hassenstein

German professional football is looking for new sources of income in the crisis. Apparently the DFL is planning to get investors on board. There seems to be great interest. It’s about 200 to 300 million euros.

Dhe meeting is scheduled for Monday morning. And as in previous months, if there was something to be discussed, discussed or decided, the 36 invited participants will connect by video – this is how it is with conferences for the most part in Corona times.

The German Football League (DFL), under whose roof the 18 first division and 18 second division clubs operate, has invited the clubs to a meeting. In addition to the recently heavily controversial distribution of TV money, there is also another economically very important point on the agenda: Apparently the DFL is planning to sell subsidiaries to investors. It is said that DFL boss Christian Seifert wants to inform the club representatives. It is explicitly about the sale of shares in the DFL subsidiary Bundesliga International GmbH.

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Since there will be less money from the marketing of media rights from the coming season, the Bundesliga needs new sources of income, because from the coming season there will be less money to be distributed from the marketing of media rights. A few weeks ago, the DFL Presidium, which comprises nine members and meets with the 36 club representatives one day before the meeting, is said to have discussed investor offers for a subsidiary of DFL GmbH for the first time.

DFL, Christian Seifert

DFL-Chef Christian Seifert

Source: pa / dpa / Frank Rumpenhorst

In any case, the interest of financial investors in getting involved in German professional football seems to be great. As the “Financial Times” reports, more than 20 addresses from the private equity camp have asked the DFL. Private equity are equity investments that are acquired in non-listed companies. The newspaper names around 20 investment companies such as Advent International, Apax, Ardian, Apollo, Bain Capital and BC Partners.

Secret meeting in Frankfurt

In Italy, the Italian Serie A cleared the way for the sale of a ten percent stake in the company for its media rights and will receive 1.7 billion euros in return.

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According to the “Financial Times”, shares with a volume of 200 to 300 million euros are to be sold in the event of a possible investor deal, whereby the company would be valued at more than one billion euros. One of the goals of Bundesliga International GmbH is to install an online payment system to distribute Bundesliga games worldwide. Most recently there was talk of an app with which the DFL could directly market the moving images in some markets.

At the meeting of the clubs on Monday, however, the future distribution of the TV money will also be discussed. The DFL Presidium also wants to discuss this on Sunday – and then provide information. Most recently, an open dispute was sparked about it in the league, which culminated in a secret meeting of top officials from 14 Bundesliga clubs and the second division club Hamburger SV. The four Bundesliga clubs FC Augsburg, Arminia Bielefeld, 1. FSV Mainz 05 and VfB Stuttgart were not invited. The quartet had previously positioned itself on the question of the future distribution of the TV money and publicly advocated a new regulation.

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Screenshot 2020-11-10 at 14.49.54_

The advance caused trouble. Karl-Heinz Rummenigge, CEO of FC Bayern, spoke of a solidarity pact that “we did not break”. “They threw the gauntlet down to us,” he said to the address of the four first division clubs and their supporters from the second division.

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Christian Seifert: Bundesliga is looking for a new “billionaire dealer”

ADuring the weekend, ARD ran a very profound documentary. Title: “On, on and on – Corona. The Bundesliga. The restart ”. In it, protagonists of German football tell how they experienced the past few months after the virus stopped social life in Germany in March and led to the first interruption of the Bundesliga since it was founded in 1963.

Above all, Christian Seifert, head of the German Football League (DFL), had his say and described in detail what happened in the spring when it came to the survival of German football.

The 48-minute film once again showed how much Seifert in particular got involved and acted. But a successor must now be found for the head of the DFL, who has proven himself in the crisis.

The managing director of the umbrella organization of the 36 professional clubs will not renew his contract, which ends on June 30, 2022. “The only clear decision for me is that I will open a new professional chapter,” said Seifert in an interview with BILD.

Seifert came from Karstadt

“These are challenging times that require clarity and reliability. That applies to the DFL as a whole and also to my professional ambitions, ”Seifert had previously communicated. Peter Peters, head of the supervisory board, in turn, let it be known that the supervisory board would approach the new appointment professionally without time pressure and set up a comprehensive process for this purpose.

Seifert is leading the DFL through the corona pandemic with calm and understanding

Source: dpa / Frank Rumpenhorst

He confirmed that the change at the top would mean a turning point. “Christian Seifert has done an outstanding job in more than 15 years”, says Peters: “and thus made a significant contribution to the success of the Bundesliga and the 2nd Bundesliga.”

In 2005 Seifert – married and father of two children – came to the DFL. He was previously CEO of KarstadtQuelle New Media AG and initially managing director rights, licenses, marketing. He soon succeeded Wilfried Straub as Chairman of the Management Board. The fact that Seifert doesn’t have a great footballing past didn’t matter then – and certainly not today.

The billionaire dealer

He tackled immediately and gave German football an immense upswing in the years that followed. The marketing of TV rights rose during his tenure from 400 million euros per season to more than one billion.

“The billionaire dealer” was the headline of “Kicker” in 2012 after a TV contract negotiated at the time and calculated that if Seifert got ten percent of a transfer like a player’s agent, he would have to receive 250 million euros. Seifert has no plans for his professional future yet. “A job at a club would not be the new professional chapter that I am aiming for,” he emphasized to the “image”. And: “I definitely rule out a change to the DFB in whatever role.”

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How competent, eloquent, well networked and strong in leadership Seifert is was shown in the Corona crisis. When football came to a standstill and the players, coaches and supervisors were forced to take a break, Seifert became the face of German football. From then on, Seifert presented at regular press conferences what the 36 professional clubs had previously advised in video conferences under his leadership, strategically clever and also with a corresponding humility towards politics and the authorities.

Seifert led DFL through the crisis

Seifert was present on German television almost every week when there was something to report about the situation in professional football. Then he sat in front of the podium, calm and collected. He allowed every question there was. “Thank you for the question,” he usually replied first and then answered. From the beginning Seifert made no secret of the seriousness of the situation. He spoke of the threat of bankruptcy if the game cannot be continued.

“We make a product. But this product, which makes a handful of young soccer players rich, also guarantees work and a livelihood for at least 56,000 other people. ”Seifert was always clear in what he communicated. But as controlled as he often seemed, everything that has happened in the past few months has of course not passed him by. But on the contrary.

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In a very personal interview, the DFL boss recently told the “Stern” how the difficult phase changed him himself. “I had a few nights with little sleep. The number of questions that came up was so great that I got up in the middle of the night and had to write everything down. ”When the Bundesliga dared to restart the world-wide acclaimed restart in May, he decided not to visit the stadium and preferred to mow at home the lawn. The pandemic was still not a trigger: “The situation of the last few months due to Corona has nothing to do with the decision.”

Watzke praises Seifert

Seifert, for whom it was “an honor and joy at the same time”, as he said on Monday, “will be able to actively shape the development of one of the largest sports leagues in the world, an important social institution and the establishment of one of the most innovative media companies in Germany” will be almost two years. now still be in office. Then he will leave big footsteps. Not only Hans-Joachim Watzke, the managing director of Borussia Dortmund, is already aware of this.

BVB boss Hans-Joachim Watzke

Hans-Joachim Watzke praises Seifert for his work at a high level

Source: dpa / David Inderlied

“German professional football is now asked to find a suitable successor. To replace a man like Christian Seifert, who has worked for football at such a high level for so long, 1: 1, is a difficult undertaking, “said Watzke. When asked about a successor, the promised one: “That is the task of the supervisory board. If you get my opinion or assessment, I am of course available. “

But which candidates are there? A dual leadership would be conceivable, in which the recognized DFL communications director Christian Pfennig plays a larger role. The name Michael Ilgner, previously Head of Sporthilfe, now Head of Human Resources at Deutsche Bank, is circulating.

One thing is clear: Karl-Heinz Rummenigge (65), who will leave Bayern on December 31, 2021, is not available. A former club boss would always be accused of partiality anyway.

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