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Deutsche Bank to restructure its investment banking arm

Bank intends to simplify organisation to encourage substantial cost savings & reduce bureaucracy

Reuters  |  Frankfurt 

Deutsche Bank has outlined clearly differentiated roles for the co-heads of its revamped investment bank to make it more efficient and is also creating a new global markets division. In an email to employees on Wednesday, Deutsche Bank said it wanted to reduce bureaucracy and simplify the organisation, which would in turn lead to substantial cost savings this year. Marcus Schenck and Garth Ritchie, named this year to lead the reorganised corporate and investment bank, outlined in the email how they would split their duties. Germany's largest lender has been trying to ...

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First Published: Thu, June 15 2017. 16:37 IST