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Deutsche Bank Jumps After Activist Fund Led by Former JPMorgan CFO Builds Stake

Martin Baccardax

shares jumped higher Thursday it confirmed that activist investor Hudson Executive Capital LP has taken a stake in Germany's biggest lender just days after disappointing third quarter earnings that helped drag the stock to a fresh all-time low. The Wall Street Journal first reported that Hudson, which is run by former JPMorgan CFO Douglas Braunstein, had built a 3.1% stake in the bank following last week's third quarter earnings which showed net profit for the three months ending in September fell 65% to €229 million and total group revenues slumped 9% to €6.776 billion -- the lowest since 2010 -- and aren't expected to rise past 2017 levels over the course of the year. TheStreet's Robert Powell recently hosted an all-star panel of experts who explained everything you need to know on closed-end mutual funds, and often-overlooked investment class.