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Deutsche Bank scales back investment bank as profit drops

Reuters  |  FRANKFURT 

By Tom Sims and Arno SchuetzeFRANKFURT (Reuters) - Deutsche Bank's new chief executive Christian Sewing took firm action on its long-troubled investment bank on Thursday, cutting back bond and equities trading after a dramatic drop in quarterly profit."Deutsche Bank is deeply rooted in Europe - here we want to provide our clients access to global financing and treasury solutions," Sewing said, just weeks after becoming its CEO."This is what we will focus on more decisively," Sewing said, in a marked reversal from Deutsche Bank's global investment banking expansion over three decades, which ...

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First Published: Thu, April 26 2018. 15:35 IST