Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters.
Source: www.reuters.com
Deutsche Bank is planning to downsize its U.S. equities business, including prime brokerage and equity derivatives. At the latest annual meeting, Chief Executive Officer Christian Sewing told shareholders that the Bank is prepared to make “tough cutbacks” at its investment banking division. The bulk of anticipated U.S. cuts will come from its money-losing equities business, which includes cash equities trading.
