A plan to transform the bank into a company more like Goldman Sachs.
Deutsche Bank is winning support from German politicians for a plan to transform the bank into a company more like Goldman Sachs.
Bloomberg News reports that would be the result of an option the firm is weighing as it seeks to bolster capital levels and profitability, according to a person with knowledge of the matter, who asked to remain anonymous because the talks are confidential.
Exiting retail banking to focus on global fund management and investment banking would cut fewer jobs and deliver the quickest boost to returns among three scenarios under review, said the person.
'Deutsche Bank is Germany’s only global player in banking', Michael Fuchs, the deputy parliamentary leader of Chancellor Angela Merkel’s Christian Democratic Union said by phone from Berlin. 'If they decide to restructure their business, we should support them'.
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