Deutsche Bank CEOs to give strategy update Tuesday

DEUTSCHEBANK-STRATEGY:Deutsche Bank CEOs to give strategy update Tuesday

Deutsche Bank co-chief executives Juergen Fitschen and Anshu Jain will give an update on their strategy review when the bank releases earnings on Tuesday, according to an invitation sent out to analysts.

Details about the lender's 100-day strategic review follow unusually frank discussions with investors about how to reshape Germany's flagship lender after weaker-than-expected preliminary earnings revealed its high cost base.

Earlier this month Reuters reported that Deutsche aims to cut almost a tenth of its investment banking staff.

The cull of around 1,000 jobs comes in response to a slowdown in financial market activity, and marks an about-turn for the German bank which in April said it saw no need for layoffs at its investment bank.