Deutsche Bank will try to reassure investors on turnaround

Deutsche Bank - External

Deutsche Bank’s John Cryan will try to convince investors this week that his efforts to turn around Europe’s biggest securities firm will succeed. It’s a narrative that’s becoming harder to sell.

Bloomberg News reports that the quarterly update on Wednesday comes nine months after Cryan announced plans to cut thousands of jobs and shrink risky assets to boost profitability and capital levels.

The CEO has since had to put the sale of consumer lender Deutsche Postbank on hold, scrap the development of a “digital bank” and contend with the departure of several senior bankers.

The stock has lost more than half its value over the past year, and hedge funds including Marshall Wace LLP have bet that the shares will fall further. Analysts have signaled concerns about the capital strength of a company that has some of the biggest holdings of complex assets and derivatives among European banks.

To access the complete Bloomberg News article hit the link below:

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