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Deutsche Bank Reunites Traders, Bankers in Latest Overhaul

  • Marcus Schenck, Garth Ritchie to lead combined business
  • Firm says 65% of unit’s capital devoted to corporate clients
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One year after he split Deutsche Bank AG’s investment banking and trading units, John Cryan has put them back together with a familiar mandate: fewer clients and lower costs.

Cryan, chief executive officer since 2015, said Sunday that the business will focus more on corporate clients and will pare the list of fund managers and other institutions it serves. The division will be led by Marcus Schenck, the lender’s current chief financial officer and a former Goldman Sachs Group Inc. banker, and Garth Ritchie, a trading executive who came up through the equities business.