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Frugal in Frankfurt: Can a Penny-Pincher Fix Deutsche Bank?

  • Co-CEO Cryan struggles to cut costs without killing profit
  • Warnings to move fast from Fed and British authorities
Bloomberg business news

Deutsche Bank’s 1.15 Billion Euro Problem...

High in the Deutsche Bank Towers in downtown Frankfurt, a radical plan code-named Model 5 was quickly unraveling.

It was April 24, and key players at the German banking giant had assembled on the 35th floor. Rocked by one scandal after another, Deutsche Bank had spent months considering its options. The most extreme was Model 5: cleave the bank in two.