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...Last year, former Credit Suisse chair António Horta-Osório joined Cerberus Capital Management as a senior adviser. He has a similar position at Italian bank Mediobanca....
...Cerberus also sold down its stake in Commerzbank at the same time....
...In June 2021 — when the ECB rate was zero — US private equity group Cerberus agreed to buy HSBC’s French consumer business for a token €1....
...He had been put forward as chair of German lender Deutsche Bank by private equity group Cerberus as part of a botched attempt to take control of the German lender’s board....
...Private equity group Cerberus, which at the time held a stake of more than 5 per cent, had pushed for a management overhaul as it warned the bank’s future was on the line....
...Cerberus disclosed a 3 per cent stake in November 2017, which has since lost €400m of value....
...Cerberus followed the failed merger with unsuccessful efforts to replace Paul Achleitner, Deutsche’s chair, whose term ends this year....
...When Cerberus first announced its stakes, they were worth €1.6bn, compared with €1.2bn, based on Monday’s closing prices....
...This time round Albertsons, backed by private equity group Cerberus Capital, is the target....
...That meant going against a deal that Achleitner, the German government, Deutsche’s then-investor Cerberus and Commerzbank had all backed....
...In late 2019, private equity investor Cerberus pushed for Achleitners exit, trying to replace him with former Morgan Stanley president Colm Kelleher....
...regulator alleges forgery by Carillion auditors (FT) SoftBank invests in artificial intelligence start-up Qraft Technologies (Wall Street Journal) Take-Two buys gaming group Zynga in $12.7bn deal (FT) Cerberus...
...In late 2019, private equity firm Cerberus — one of Deutsche’s largest shareholders — pushed for Achleitner’s exit, unsuccessfully trying to replace him with Kelleher....
...Back then private equity group Cerberus, which is one of the biggest shareholders, warned that “swift and decisive action now” was required to stop a “downward spiral” caused by bloated costs, low profits...
...Aggressive private equity firm Cerberus, a top-five shareholder, has been less critical and Matt Zames, who had taken a personal interest in the Deutsche turnround, left his job as president of Cerberus...
...According to this scoop by the FT’s Laura Noonan, Olaf Storbeck and Stephen Morris, an attempt at slashing through the German lender’s velvet rope by the US private equity group Cerberus, Deutsche’s fifth-largest...
...Last summer, Cerberus argued that “swift and decisive action now” was required to stop a “downward spiral” caused by bloated costs, low profits and “managerial inaction”....
...This followed a boardroom battle with private equity group Cerberus, which disclosed a stake of more than 5 per cent in Commerzbank in mid-2017 and pushed for a management overhaul....
...Cerberus holds a stake of more than 5 per cent in the struggling German lender....
...The ambition marks a remarkable turnround for Hamburg Commercial, which in 2018, when it was then named HSH Nordbank, was sold to a consortium led by US private equity groups Cerberus and JC Flowers....
...Commerzbank is losing both its chairman and chief executive in an escalating row with private equity group Cerberus over its strategy....
...Shares in Commerzbank have lost close to 60 per cent since Cerberus disclosed a stake of more than 5 per cent in mid-2017....
...Cerberus had previously raised “serious doubts” that Mr Vetter was “the right person for this job or has the right experience for it”....
...Here, too, trouble may lie ahead: Cerberus criticised the appointment....
...If Cerberus’s appetite for risk is unspoilt by its German adventures, and it fancies doubling-down on European banks, it could do worse than buy into SocGen and UniCredit and start agitating there....
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