How Many Turnaround Plans Does It Take to Fix Deutsche Bank?
- The lender announced four strategy updates in three years
- Revenue, investment banking market share declined throughout
Tree blossoms in front of the headquarters of Deutsche Bank in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Deutsche Bank AG’s trading performance these days may not be dizzying, but you can’t say that about its strategy announcements.
Christian Sewing, who took over as chief executive officer barely two weeks ago, wants to scale back U.S. rates sales and trading, reduce the corporate finance business in the U.S. and Asia, and make cuts to the global equities business. It’s the fourth turnaround plan for Europe’s largest investment bank in the past three years.