The kind of radical move made by Deutsche Bank Chief Christian Sewing has been on the table for years in Frankfurt.
Deutsche Bank unveiled an overhaul that’ll see lender the post a $3.1 billion second-quarter loss and cut workforce by a fifth.
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Deutsche Bank says it can realise its revamp without a capital increase that would dilute existing stakes further.
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Deutsche Bank marks the first official casualty of an overhaul that’s shaping up to be the largest in the lender’s recent history.
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The bank may shutter U.S. equities trading entirely and a number of senior executives are leaving the bank.
The scene is being set for more tumult at the top as Deutsche’s CEO continues a purge of the bank’s top ranks.
Deutsche Bank Overhaul Could Cost as Much as $5.7 Billion
Deutsche Bank is sounding out potential buyers for unwanted assets as it prepares for most dramatic overhaul in recent history.
Christian Sewing is putting the finishing touches on a plan that may result in the lender’s deepest overhaul in decades.
Inside 60 Wall Street, the American headquarters of Deutsche Bank AG, the signs of trouble are everywhere.
Deutsche Bank CEO Poised to Return Bank to Its Pre-Crisis Roots
The restructuring is likely to hit Deutsche Bank’s investment banking division the hardest, particularly its U.S. operations.
Bank is expected to start informing staff of cuts -- including in the U.S. and Asia -- as soon as next month.
Deutsche Bank Equities Head Expected to Leave Amid Deep Cuts