Deutsche Bank Says Its Traders Have Kept Up With Wall Street
- Growth ‘in line with or better’ than peers’ 12% guidance
- CEO Sewing has relied on investment bank for revenue growth
Deutsche Bank AG twin tower headquarters, Frankfurt.
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Deutsche Bank AG’s fixed-income traders are on track to match or beat the performance of their Wall Street peers, racking up a fourth straight quarter of gains as the lender takes advantage of a year-long market rally.
Third-quarter trading revenue is “in line with or better” than the guidance for 12% growth that Wall Street peers had given on average, investor relations head James Rivett said on a recent call with analysts, according to a transcript published Monday. That performance excludes the impact from debt valuation adjustments and Tradeweb, which reduced revenue in the third quarter of last year by 99 million euros ($116 million).