Investment Banking

Former JPMorgan finance chief takes stake in Deutsche Bank

Douglas Braunstein’s hedge fund Hudson Executive Capital takes 3.1% stake in Deutsche, backing the beleaguered bank’s management

A New York-based activist hedge fund has taken a stake in Deutsche Bank, betting the German lender’s new chief executive can revive its sagging profits by pursuing a turnaround strategy investors so far have found unconvincing.

Hudson Executive Capital, led by former JPMorgan finance chief Douglas Braunstein, said it has built about a 3.1% stake in Deutsche Bank common shares, The Wall Street Journal reported.

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