Deutsche Bank CEO Says He May Shutter Units in Next Revamp

Deutsche Bank AG Chief Executive Officer Christian Sewing said the next steps in his strategic plan for the lender may involve cutting underperforming units to improve profitability.

Sewing, who is reviewing the bank in preparation for his next strategy update, told reporters on Thursday that he may “intervene even more rigorously where we are putting resources into business areas that generate below-average returns.”