Werner Steinmueller, Deutsche Bank’s Asia-Pacific chief executive, said that as the bank exits equity trading it will expand its corporate bank in Asia and add jobs in its wealth management business. Photo: May Tse

Deutsche Bank overhaul could see new investments, hiring in Asian operations, APAC chief executive says

  • The German bank plans to cut 18,000 jobs globally, close its equity sales and trading business
  • Realignment will open up new capital for technology investments in Asia, new hiring in wealth management, according to Werner Steinmueller
Topic |   Banking & Finance

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Werner Steinmueller, Deutsche Bank’s Asia-Pacific chief executive, said that as the bank exits equity trading it will expand its corporate bank in Asia and add jobs in its wealth management business. Photo: May Tse
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The headquarters of Deutsche Bank in Frankfurt, Germany, which has embarked on a major restructuring plan. Photo: dpa/AFP

Deutsche Bank’s ‘fundamental transformation’ under CEO Christian Sewing to cost US$8.3 billion and 18,000 jobs

  • Bank to shelve dividend this year and next to pay for the restructuring that will shrink its investment bank, global footprint and fixed-income business
  • Investors cheer, sending the bank’s shares 4.4 per cent higher in early trading
Topic |   Banking & Finance

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The headquarters of Deutsche Bank in Frankfurt, Germany, which has embarked on a major restructuring plan. Photo: dpa/AFP
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