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Deutsche Bank Turnaround Plan Receives Mixed Investor Review

  • Shares drop 6.9% on plan to offer $8.5 billion in new stock
  • Key investor said to be undecided about participating in sale
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Deutsche Bank CEO on Share Sale, Turnaround Strategy

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Deutsche Bank AG Chief Executive Officer John Cryan needs to convince investors he’s finally on the right track after tearing up his own turnaround plan just 17 months into the revamp.

Reaction so far to his about-face -- which includes an $8.5 billion rights offering, selling part of the asset-management business and reintegrating the consumer-banking unit -- has been mixed. Cryan told Bloomberg TV on Monday that one key stakeholder had signaled willingness to participate in the share sale. Another large shareholder is undecided about the capital increase and will need convincing, a person familiar with the matter said.