Deutsche Bank Reported to Mull Partial U.S. Retreat to Cut Costs
- U.S. pullback was discussed by supervisory board: Sueddeutsche
- CEO Cryan under pressure to lower costs amid rising legal bill
This article is for subscribers only.
Deutsche Bank AG, Germany’s biggest bank, is considering options such as scaling back U.S. operations as part of a wider overhaul to lower costs, according to several media reports.
A U.S. pullback was already discussed by the supervisory board and would be more likely than a sale of the asset-management business, Sueddeutsche Zeitung reported, citing an undisclosed person familiar with the matter. No decision has been taken, according to the German newspaper. Deutsche Bank doesn’t plan a full U.S. retreat, according to Reuters. Renee Calabro, a spokeswoman for Deutsche Bank in New York, declined to comment.