News Formal

Deutsche Bank ready for ‘tough cutbacks’ in investment banking

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Nigeria News News

The bank’s shares hit a record low on Thursday as the CEO faces shareholder discontent over its strategy and leadership

Deutsche Bank’s CEO is prepared to make “tough cutbacks” in its investment banking business, whose future is in doubt after several failed restructurings, in order to be profitable and competitive.

Deutsche Bank’s struggling equities division, which is mainly based in New York and London and saw steep cutbacks last year, is a target, and prime brokerage that serves hedge funds is also under scrutiny, a person with knowledge of the matter said. Deutsche Bank is also facing tough questions over its failed merger talks with Commerzbank and top shareholders have said that its chair, Paul Achleitner, should step down before his term ends in 2022.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

patrickrooney It’s not just $DB. listen to the whisperers... it’s being done across the street.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Little to no bank fees with these new accounts from banks | IOL Business ReportAfrican Bank launched its transactional banking offering, MyWORLD, as it takes on fierce competition from South Africa's established lenders.
Source: IOL - 🏆 46. / 51 Read more »