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Revenge of the locusts: the slow revolution in German banking

Private equity funds likened to ‘locusts’ 14 years ago are looking to deploy their talents in a banking sector in need of restructuring

German bank NordLB’s headquarters in Hanover
German bank NordLB’s headquarters in Hanover Photo: Getty Images

If the Germans cannot restructure their banks, maybe the locusts can help?

Europe’s most prosperous economy has long proved wrong the conventional wisdom of the past 20 years about what modern finance should be. Germany has no flashy financiers, hedge funds are frowned upon and bankers’ pay and bonuses remain contained. The expression “golden boys” never seemed to be properly translated into German.

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