Josef Ackermann, the former CEO of Deutsche Bank, says a merger involving Europe’s major banks could be the financial champion Europe needs in an era of Donald Trump’s “America First.”

In investment banking, “the U.S. is absolutely taking over. Is that good? In a climate of America First, shouldn’t Europeans try to change that?” said Ackermann, who ran Deutsche Bank for the 10 years to 2012, in an interview with Bloomberg Television.