Deutsche Bank tries cherry-picking rivals’ overhauls, but CEO Christian Sewing has yet to convince investors his smorgasbord approach will taste as good as his rivals’ restructurings. AntonyMCurrie
Shares in Deutsche Bank closed more than 5% lower on July 8, a day after Chief Executive Christian Sewing announced plans to lay off 18,000 staff, close its equities trading business and shrink its fixed-income trading unit.
Deutsche is also creating what it calls a Capital Release Unit to offload 74 billion euros of risk-weighted assets and 288 billion euros of leverage exposure.
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