Deutsche will cut 18,000 jobs for a global headcount of around 74,000 employees by 2022.
The bank aims to reduce adjusted costs by a quarter to 17 billion euros over the next several years.
"Those are plans that have been underway for some time and of course in the restructuring or realignment of our investment bank there'll be significant cuts there as well principally falling, of course, in equity sales and trading with the announcement that we are going to exit entirely, but also to some degree in the FICC organization," von Moltke added.
"Over the past year or so we've been quite deliberately trying to set near-term goals that we could hit deliver on our promises and build from there. That's absolutely how we approach this, he said, reiterating that the board were determined for this to be the last round of restructuring needed.just two days after its investment banking chief Garth Ritchie stepped down by "mutual agreement.
Deutsche shares have risen 16% over the past month, bouncing off an all-time low in early June after CEO Christian Sewing called for "tough cutbacks" at a contentious shareholder meeting. However, the multi-year decline is evident in a current share price of 7 euros, as opposed to 112 euros at their pre-crisis peak.
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