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Business

Deutsche Börse Mulls Name Change

Werner Seifert, head of Deutsche Börse AG, the company that operates the Frankfurt stock exchange, said on Wednesday that the company was toying with the idea of getting rid of the "Deutsche" in its name to keep up with a growing trend of globalized company names, but didn't say what it would be replaced with. He said the topic would most likely be on the agenda at the next shareholders' meeting next year. "Our company name is increasingly failing to cover our corporate mission, our business reach, and even our own company structure," Seifert explained. He added that a change of name would help to make the company's definition as an international financial services provider clearer to the outside world. The move might make sense given that only a quarter of Deutsche Börse's customers come from Germany. 65 percent of the company's shares are in the hands of foreigners. The company's more than 3,300 employees are, in addition to its headquarters in Frankfurt, largely hired in Switzerland and the U.S.