Sewing Says Europe Needs Capital Market Union to Lure Tech Firms

Deutsche Bank AG Chief Executive Officer Christian Sewing said Europe needs to harmonize its capital markets further to fund much needed investments by companies and make sure the region can attract technology firms.

Harmonization is “necessary in order to finance new technologies, new emerging industries,” Sewing said on a panel in Davos moderated by Bloomberg News’s Stephanie Flanders on Thursday. Europe needs “the capital markets union not only as the financing port for traditional industries, but actually as our chance to attract new industries like the tech industry into Europe.”