I have held strong views about Deutsche Bank for more than 10 years from when it first showed signs of realising its global potential, rather than lying like a beached whale washed up on the Baltic shores.

I took the view, perhaps unfairly, that its former leader, Rolf Breuer, couldn't run a leading bank. For a man who claimed to be an international banking visionary, he never seemed to appreciate that most of Deutsche's problems began at home.