Deutsche Bank is seeking a partnership with an international insurer, to rival Allianz's takeover of Dresdner Bank last month.

Chief executive Rolf Breuer said: “We have a strong market position, but we are talking right now with a whole row of German and international insurers and banks about partnerships.”

He added that Deutsche Bank was looking in England, France and the United States as well as Switzerland and Italy for a potential deal.

“We are looking for a partnership built upon the basis of equality between each party,” he said.

Deutsche Bank were put under pressure when the troubled Dresdner Bank underwent a friendly takeover by Allianz, creating a global financial giant in banking and insurance. Breuer said at present no deadline had been set for finding a suitable partner.

One of the goals of a further partnership will be to increase the bank's client base. Currently Deustsche Bank has 11 million clients, and hopes to increase the figures to 20 million in the next few years.

But Breuer refused to confirm or deny market rumours that the bank may be teaming up with French insurer Axa. The bank has played down the importance of Axa in recent months, after initially hinting that a deal between the two could be in store.