Deutsche Bank is to cut more than 7000 jobs. CEO Christian Sewing, who is only a few weeks into the job, said the lender’s recent performance left him with no other choice.
Deutsche Bank's new CEO has no time to lose. He has only one chance to get the embattled financial giant back on its feet. If he fails, Germany's biggest lender will be history, writes DW business editor Henrik Böhme.
Sewing takes the helm of Germany's largest lender at a time of losses and legal troubles. The 47-year-old German will replace British-born John Cryan.
Germany's biggest private lender has announced it's laying off more employees than originally planned as it looks to retreat from equities markets across the world in a sweeping overhaul launched by its new CEO.
Deutsche Bank (DB) is expected to oust British CEO John Cryan and replace him with the German head of the private and commercial banking division. Germany's biggest lender has experienced three years of losses.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version