Philipp Hildebrand, vice chairman at Blackrock, said the re-election of the former US President “would challenge Europe fundamentally” following a decades-long dependence on America for leadership on the world stage.
Mr Hildebrand, who has served in the position since 2012, was responding to comments last week from Christine Lagarde, the head of the European Central Bank (ECB), who said Mr Trump posed a “clear threat” to Europe because of his divergent views on climate change and trade policy.
Speaking on the sidelines of the World Economic Forum in Davos, Mr Hildebrand urged Europe to seize the opportunity to transform itself into a technological superpower that was less dependent on America. He added that Europe’s capabilities on defence were “just not there” and required a rethink.
Mr Hildebrand said: “I see it as an opportunity for the construction of Europe.” He added: “Clearly, if [Trump’s election] were to lead to a rupture, which I think is what President Lagarde has in mind as a risk, then that would challenge Europe fundamentally.”