Skip to content
Subscriber Only

Deutsche Bank CEO Says Investment Bank Will Stay 'Core DNA'

  • CEO Sewing says unit will have ‘at least half of the revenues’
  • Bank is cutting at least 7,000 jobs, scaling back equities
Video player cover image
Deutsche Bank to Lose Three Senior Investment Bankers
Updated on

Deutsche Bank AG Chief Executive Officer Christian Sewing said he’s not planning an all-out retreat from investment banking as Germany’s largest lender cuts back its global ambitions.

“The corporate and investment bank will always be the core DNA of Deutsche Bank and will always have at least half of the revenues,” Sewing said at an appearance with German Finance Minister Olaf Scholz in Berlin on Wednesday. The bank’s planned restructuring, which began almost immediately after his appointment in April, “is not a reinvention of Deutsche Bank,” he said.