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Deutsche Bank calls time on Wall Street in retreat to Europe

Reuters  |  FRANKFURT 

By Tom Sims and Arno SchuetzeFRANKFURT (Reuters) - Deutsche Bank moved to end its nightmare on Wall Street on Thursday as its new chief executive Christian Sewing called time on three expensive decades struggling to become a global investment bank with a retreat to Europe.Sewing said Deutsche would cut back bond and equities trading, where it has been unable to break the grip of the U.S. powerhouses such as Goldman Sachs and JP Morgan, and would invest in German retail banking and asset management in Europe.Deutsche Bank's attempts to break into the U.S. markets, which are seen as an ...

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First Published: Thu, April 26 2018. 19:55 IST