Deutsche Bank CEO Christian Sewing said the bank is committed to the U.S., seeking to dispel “rumors” to the contrary as the firm cuts back in some businesses there.
Bloomberg News reports that the bank may retreat from “a couple of small business areas,” Sewing said at a dinner the Frankfurt-based company hosted in Berlin on Wednesday evening. Still, he said, “fundamentally the U.S. is the most important market for us.”
The comments come as employees of the German lender await the outcome of the sweeping job cuts Sewing is putting into place amid a large-scale restructuring of its investment bank division. The reductions may include one-fifth of the U.S. staff, people familiar with the matter said on May 9.
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