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Deutsche Bank Wins German Backing to Be More Like Goldman

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Deutsche Bank AG is winning support from German politicians for a plan to transform the country’s biggest bank into a company more like Goldman Sachs Group Inc.

That would be the result of an option the firm is weighing as it seeks to bolster capital levels and profitability, according to a person with knowledge of the matter, who asked to remain anonymous because the talks are confidential. Exiting retail banking to focus on global fund management and investment banking would cut fewer jobs and deliver the quickest boost to returns among three scenarios under review, said the person.