Bloomberg News reports that Cryan’s first task after taking the helm on July 1 will be to win back investor trust, eroded by years of missed targets, legal entanglements and low returns for shareholders.
Down the road, he’ll have to rethink the business model, a task that’s more complicated at Deutsche Bank because it lacks the giant and profitable wealth management business that buttressed UBS.
Instead, Deutsche Bank has tried to maintain a fully fledged investment bank, including a markets division dogged by a trading slump and stiffening capital requirements. A proposed strategy overhaul unveiled in April - trimming those operations while selling most of the Postbank consumer unit - was criticized by investors as too little, too vague and too late.
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