Deutsche Bank cuts back on investment banking, increases focus on core banking solutions

The step marks a significant overhaul of its investment banking business and comes midst its net income of 120 million euros falling way behind analysts’ estimate of 379 million.

Following a 79% drop in net profits during the first quarter, on Thursday, Deutsche Bank in a step that marks a significant overhaul of its troubled investment banking business, Germany’s largest bank announced cuts to its bond and equities trading.

The bulk of the cuts are focused in Asia and the United States and will result in scaling-back of its business with hedge funds and job losses.

These cuts are aligned with the bank’s strategic decision to return to its core business and become a more corporate-led bank.

“Deutsche Bank is deeply rooted in Europe – here we want to provide our clients access to global financing and treasury solutions,” said Christian Sewing Deutsche’s Chief Executive Officer. “This is what we will focus on more decisively going forward.”

He went on to add, the reduction in headcount is “painful but regrettably unavoidable to ensure our bank’s competitiveness in the long run”.


Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy, Uncategorized

Tags: , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: