NEW YORK - Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters.
The bulk of the anticipated U.S. cuts will come from its money-losing equities business, which includes cash equities trading. Other areas of the business, including U.S. rates trading, have been earmarked for further reductions, they said. The bank had previously denied reports it planned a further U.S. restructuring, saying in a memo to staff last month that it was “firmly committed” to its U.S. franchise.
Shares in Deutsche Bank have fallen by 40% during Sewing’s 13-month tenure as CEO, in part reflecting concerns over the poor performance of its investment bank.
DeutscheBank is a slowly exploding financial bomb, that is moving so S L O W L Y no-one notices.
Deutsche Bank needs is nothing but a money laundering organization
Rarely seen a more incompetent management.
That fire must be getting HOT.
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