Redeploying resources to areas and clients needed most.
Bloomberg News reports that Deutsche Bank, which runs Europe’s largest investment bank, is poised to trim additional businesses at its securities unit to boost returns after scaling back in credit derivatives.
'We’re finding areas that don’t make market or economic sense and redeploying resources to areas and clients which need us most', Colin Fan, co-head of the investment bank, said by phone. The company doesn’t plan 'blanket cuts' across the securities unit, he said.
Co-CEO Anshu Jain has said Deutsche Bank is Europe’s last global investment bank, as competitors retreat. Its reliance on debt trading hasn’t been rewarded by investors this year as revenue declined and capital requirements increased. The company will review and update its strategy next year.
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