An interview of Deutsche Bank’s chief executive in glossy and gossipy magazine “Super-Illu” shows not only that the banking industry needs to overhaul its image – but also how divided Germany is, 25 years after the fall of the Berlin wall.
Most people who pick up a copy of the gossip magazine “Super-Illu” on Thursdays usually read about bands that were big in former East Germany, in their ‘Ostalgie’ pages that focus on reminiscing about popular culture in the communist country. But this week, readers of the magazine are also invited to read the thoughts of Jürgen Fitschen, the powerful co-head of Deutsche Bank, Germany’s biggest bank.
In the latest edition he talks to the magazine, in his role of President of the Association of German Banks BdB, about overdraft interest rates, the stress tests of banks and him possibly awaiting prosecution in Munich because of alleged obstruction of justice. He appears in a regular slot, called “The Boss Interview.”
Mr. Fitschen’s decision to speak to a more mass market publication is part of a strategy to get his thoughts out to a wider audience. “Super Illu” is an easy-to-read, general interest magazine that was founded in Berlin and tends to focus on life in former East Germany. An interview in its pages will reach a readership that would not necessarily look at the business pages of a newspaper.
“Fitschen also wants to reach people in the general public, not just the politicians and supervisors,” an insider said.