Deutsche Bank’s Cryan Signals Cuts to Jain’s Trading Empire
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John Cryan, on his first day as Deutsche Bank AG’s co-chief executive officer, pledged to tackle costs and cut back the trading operation built up by his predecessor Anshu Jain.
The investment bank’s securities and derivatives trading businesses can’t continue to soak up capital, Cryan said in a letter to employees on Wednesday, his first day on the job.