• Deutsche Bank scales back investment bank as profit drops

    5 monthes ago - By Reuters

    FRANKFURT - Deutsche Bank's new chief executive Christian Sewing took firm action on its long-troubled investment bank on Thursday, cutting back bond and equities trading after a dramatic drop in quarterly profit.
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  • 'There is no time to lose:' Deutsche Bank is embarking on a major overhaul - and it will lead to big job losses

    5 monthes ago - By Chron

    REUTERS/Luke MacGregor
    Deutsche Bank set for major business overhaul including significant job losses.
    The German lender plans to scale back US operations in both rates sales and trading, while corporate finance operations in both the USA and Asia will shrink.
    Changes come as the bank reports a 79% drop in net profit in the first quarter.
    "Even a quick look at the figures makes one thing clear: we have to take action - fast," CEO Christian Sewing told staff.
    LONDON - Deutsche Bank announced a major change of direction with large numbers of job losses expected as a result of the overhaul.
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  • Barclays dragged to first quarter loss by giant US penalty

    5 monthes ago - By eFinancial News

    Analyst says the group's investment bank has 'saved the day' in an otherwise disappointing set of results
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  • Deutsche Bank ekes out profit, refocuses investment bank

    5 monthes ago - By Chron

    FRANKFURT, Germany - Deutsche Bank made 120 million euros in the first quarter as exchange rates and lower revenues at its investment banking business weighed on earnings, the company said Thursday.
    The bank, which replaced CEO John Cryan earlier this month and is struggling to profit after three straight full-year losses, said it would cut the number of top managers and take steps to refocus its investment banking operation on its European base and on areas where it has consistent profits.
    The first-quarter result compared with profit of 575 million euros in the same quarter a year ago...
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  • Deutsche Bank to scale back investment bank as profits drop

    5 monthes ago - By Reuters

    FRANKFURT - Deutsche Bank announced cutbacks to its bond and equities trading on Thursday in a major overhaul of its troubled investment bank, after posting a 79 percent drop in net profit in the first quarter.
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  • Deutsche Bank ekes out profit, refocuses investment bank

    5 monthes ago - By Chron

    FRANKFURT, Germany - Deutsche Bank reports that its profit fell to 120 million euros in the first quarter as exchange rates and lower revenues at its investment bank weighed on profits.
    The bank, which is struggling to cut costs and return to profit after three straight full-year losses, said Thursday it would reduce the number of its top managers and take steps to refocus its investment banking operation on its European base.
    The first quarter result compared with 575 million euros in the same quarter a year ago. It was an improvement from a 2.4 billion loss in the last quarter.
    Revenues...
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  • Deutsche Bank announces major overhaul of investment bank

    5 monthes ago - By Reuters

    FRANKFURT - Deutsche Bank on Thursday announced cuts to its bond and equities trading in a major overhaul of its troubled investment bank after posting a 79 percent drop in net profit in the first quarter.
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