Deutsche Bank is on the lookout to acquire a private bank, according to Juergen Fitschen, the bank’s country head for Germany. In an int...

Deutsche Bank is on the lookout to acquire a private bank, according to Juergen Fitschen, the bank’s country head for Germany. In an interview in a German financial newspaper, Mr Fitschen said: “We are keeping a lookout for attractive possibilities.” He said that the bank’s purchase of private bank Wilhelm von Finck serves as an example of “how we want to strengthen our position through selective acquisitions,” according to the interview in Westdeutsche Allgemeine Zeitung newspaper. Wilhelm von Finck, based just outside of Munich and with around €1 billion ($1.2 billion) of assets under management, was bought by Deutsche Bank in December last year. Mr Fitschen added that under the bank’s own steam, without acquisitions, Deutsche would not be able to significantly raise its market share.