Deutsche Bank

Warner Brother Discovery's HBO also came home with trophies for The Pitt, Best Drama and Actor, DTS St. Louis, Best Limited or Anthology Series, Task, Best Supporting Actor, and Hacks.

And in the Wall Street research corner, as predictions abound about what will happen with AI, Deutsche Bank looked back at some of the best or worst tech predictions of the last century.

On the prescient side, Nikola Tesla predicted in 1926 that wireless technology would fit into a vest pocket, while computer scientist Ray Kurzweil said in 1999 that computers would have human-level intelligence by 2029.

Among the not-so-hot forecasts, Albert Einstein said in 1934 that there was no indication nuclear energy would ever be obtainable.

And then in Europe, the overall STOXX Six Hundred Financial Services Index is down, and then the banks sub-sector within that is also dropping.

So if you talk of individual stocks, we've got UBS more than four percent lower, Deutsche Bank three percent lower, BNP Paribas and Barclays over one percent lower.

So it's really dragging down, uh, banks across the board.

Yeah.

[on-hold music] Hello, everyone, and welcome to Capital Link's Analyst Update Series.

My name is Chris Robertson, Director of LNG Infrastructure and Maritime Shipping Equity Research at Deutsche Bank Securities.

Hosted exclusively on Capital Link's Shipping Portal, this series brings you regular insights and market updates covering the key developments shaping LNG infrastructure, global shipping, energy markets, and the capital markets.

Capital Link's portal serves as an intelligence hub for the global shipping community, providing free access to authoritative content, expert insights, market analysis, and industry intelligence.

So before we begin, please note the disclaimers and disclosures from Capital Link and from Deutsche Bank included in the preceding slides.

We may or may not be mentioning one or more companies under coverage during this series.

Today, I wanted to talk about the recent attack and shutdown of the Saudi East-West oil pipeline.

For now, we believe the ongoing disruption will continue to support tanker rates, but the risk here is that the pipeline or other energy infrastructure is taken offline for prolonged periods of time, and the absolute quantity of crude volumes being exported begins to substantially decline, which would put downward pressure on ton mile demand and rates.

And the second professor is Harold James, a good friend of ours, who's also on our advisory council, who is the professor of history and also professor and expert in international affairs and in European affairs.

Now, Howard is also very well known for his books over the years, many books on globalization, many books on German history, the Reichsbank, the Deutsche Bank, the Bundesbank, the IMF, you name it, he's done it.

He's also written a wonderful book on the seven crashes, which he's always alluding to, to see which historical details from the past remind him of things going on now, somewhat alarming, a lot of that.

And he and his wife, Madzena, have just finished a book called on Poland and the economy, on the story of the Zloty, which is tremendously well done and also gives a very good insight into what happened with the Polish gold during the Second World War.

Gregory, let's start with you.

Very recently, Deutsche Bank has been named an RMB clearing bank, the first European bank to have this designation.

China's been trying to internationalize the RMB for 20 years.

So how much of a milestone is this in this ambition?

I think it's an important move by the central bank in China to name Deutsche Bank as the RMD clearing bank for Europe, not just for Germany, but for Europe as a whole.

It's debatable whether that includes City of London in the UK.

Of course, we know that the UK and City of London has a lot of built up traditional strength as a foreign exchange trading hub.

when he made those statements in 2024.

Now, Kike studied on a full athletic scholarship representing Great Britain as a javelin thrower.

She interned at banks like Goldman Sachs, Deutsche Bank and Citibank.

She was named one of the top five black students in the country.

And she's spoken at Forbes, Meta, American Express across multiple continents.

So you grew up in East London.

You were an athlete for Great Britain.

You worked and did internships at banks like Deutsche Bank, Goldman Sachs.

And then you walked away from all of that.

Until 1997, Buzzy was chairman of Alex Brown, America's oldest investment bank.

Alex Brown was acquired by Bankers Trust, which in turn was bought by Deutsche Bank.

His latest post before resigning to take his senior role in the CIA was the head banker's trust, Alex Brown's private client business, dealing with the accounts and investments of wealthy customers around the world.

Of course, the independent has to say there's no suggestion that he had, that Buzzy had any advanced knowledge of what happened.

We're not allowed to blame anybody for these trades.

We're just linking it together with the facts.

And the facts are that a majority of the trades were traced to a brokerage, Alex Brown, Deutsche Bank, Buzzy Krongard.

was running this brokerage.

And that will take time as well, because, you know, I've been, as I said, I've been doing this for a while.

In 2015, I was working Deutsche Bank, and I tried to present Bitcoin to our investment committee there, and I, I don't need to tell you that that didn't go well.

It was a conversation that lasted, you know, pretty much around a minute, because they really couldn't see it, right? They saw it at, at that point as being something that, you know, was internet money, was gonna get banned by the government, right? Was really small, and it was really small at the time, and they couldn't conceptually think about how that would fit in clients' asset allocations.

And for the last decade, that has changed a lot, right?

And somebody over at BNP Paribas called it a Band-Aid.

And a Deutsche Bank analyst put it best.

He said that Treasury created this monster that it now has to keep fighting.

Actually, I read something this morning where somebody said the treasury operation is more like bringing a pea shooter to a tank battle.