Deutsche Bank Struggles With Slew of Departures in U.S. Wealth

Deutsche Bank AG has lost a string of U.S.-based wealth management executives over the past year, as Chief Executive Officer Christian Sewing struggles to expand in the lucrative business of managing rich people’s money while keeping a lid on expenses.

At least 10 senior bankers and numerous junior employees across the world’s largest wealth management market have left, according to people familiar with the matter. Deutsche Bank also shuttered its Chicago-based wealth management operations, the people said, asking not to be identified discussing the private information.