This episode is supported by private equity platform Moonfare. Josef Ackermann is the former chairman of the management board and the group executive committee at Deutsche Bank. Ackermann joined Deutsche Bank’s board of managing directors in 1996, where he was responsible for the investment banking division. He is also former chairman of the Board of Directors of Bank of Cyprus. Ackermann studied economics and social sciences at the University of St. Gallen, where he earned his doctorate. In the podcast, we talk about: Managing Deutsche Bank around the global financial crisis Banker compensation and bonuses Why European banks have underperformed US banks The need for European bank consolidation How will fintech disrupt banking The importance of capital markets in Europe The future of asset management Passive vs active investment. How Western financials can benefit from China Book that influenced Joe: Faustv (Goethe), In Search Of Excellence (Peters), Built To Last (Collins), The Effective Executive (Drucker), The One Minute Manager (Blanchard)