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June 2004

Cottoning on to Deutsche confusion

by Katie Martin




There was great potential for confusion at Deutsche Bank?s London office one day last month. Standing in the grand reception area was a large sign bearing the words ?Welcome to Marks and Spencer?.

As our UK readers know, M&S is one of the country?s best-known retail brand names ? a purveyor of cotton underwear, elasticated trousers and fine food since 1884.

The store also has a long-standing reputation for accepting returned items. If your grandmother and great aunty Flo both buy you the same M&S sweater for Christmas, you can always take one back ? no questions asked.

The reaction could be slightly different if you tried to return a three-pack of panties to Deutsche Bank, however. ?No madam, this is the foreign exchange desk,? could be the reply. Or the swaps desk, for that matter.

It turns out that M&S was using the Deutsche office as a location to announce its preliminary full-year results.

If, however, the bank does decide to start selling underpants, we will happily stand corrected. 







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