Deutsche Bank is now nearly 10 percent Chinese owned - SupChina

Deutsche Bank is now nearly 10 percent Chinese owned

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The Chinese conglomerate HNA Group has more than doubled its stake in Deutsche Bank from 4.8 percent in March to 9.92 percent according to the most recent regulatory filings, Bloomberg reports. HNA is now the largest shareholder in Europe’s largest investment bank. The group has also recently acquired stakes in the Swiss travel retailer Dufry, the Singaporean logistics firm CWT, and the hotel giant Hilton Inc. On May 2, Jing Daily noted that HNA may be preparing to acquire an unnamed “major” cruise line.

The South China Morning Post analyzed the pace of HNA’s expansion last month, and pointed out that “while other players, including China’s richest man, Wang Jianlin, and insurance group Anbang, have had to rein in their global ambitions, HNA has sealed one deal after another in recent months.” The company, according to (paywall) the New York Times, has deep connections to the government, as its chairman, Chen Feng 陈峰, is part of the National Congress of the Chinese Communist Party. Moreover, in 2008, HNA formed a business partnership with the son of He Guoqiang 贺国强, the country’s anti-corruption chief at the time.

Lucas Niewenhuis

Lucas Niewenhuis is an associate editor at SupChina who helps curate daily news and produce the company's newsletter, app, and website content. Previously, Lucas researched China-Africa relations at the Social Science Research Council and interned at the Council on Foreign Relations in New York. He has studied Chinese language and culture in Shanghai and Beijing, and is a graduate of the University of Michigan.