FRANKFURT - Deutsche Bank’s chief executive promised shareholders “tough cutbacks” at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany’s biggest lender, whose shares hit a record low.
After years of failing to keep pace with Wall Street’s big hitters such as JP Morgan and Goldman Sachs, Deutsche Bank is being pushed to retreat from riskier investment banking and focus its effort on mainstream markets. Shares in Deutsche Bank, which have lost 38% since last year’s shareholder meeting, were down 2.8% at 6.43 euros at 1334 GMT, slightly off their earlier life-time low.
But on Thursday Achleitner indicated that he would stay, telling shareholders: “Of course, I’ve made mistakes over the past seven years.”Cuts to the investment bank are overdue, Klaus Nieding, vice president of shareholder lobby group DSW, said.
Having trouble without that dirty Russian money?
This article didn’t seem to mention much about the laundered Russian mob money or Trumps connection 🤷🏻♂️ maybe I glanced over that part...
Yes they have been caught laundering money for Russian cheat people out of there homes in foreclosures. And more
begin countdown to shut down of USA investment bank
How about not letting money launderers bank with them, handing over the President records especially with foreign countries
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