Deutsche Bank chief executive Christian Sewing said the European Union must take the opportunity to progress towards greater integration of capital markets now that the issue is high on the agenda.

"The capital markets union is higher on the European policy agenda than it has been for years," Sewing, who is president of the German private bankers association BdB, told the German banking day on Monday.

"The issue must not take a back seat again after the European elections. Rather, we are counting on the fact that it will now actually shift up two gears," Sewing added.

(Writing by Rachel More Editing by Miranda Murray)