Deutsche merger fears

A MEGA-MERGER between ailing Deutsche Bank and a rival could fail because management lack the steel to push through brutal job cuts, insiders fear.

Deutsche is being pressured by the German authorities to tie up with domestic competitor Commerzbank. It could allow bosses to wield the axe, focusing on profitable parts of the bank and eliminating everything else.

But there is concern Deutsche will not cut deeply enough. A senior supervisor at Deutsche said: ‘You have to employ ruthless brutality to be really successful.’

Deutsche shares are down 38pc in the last year.