Wall Street Breakfast: Sweeping Overhaul At Deutsche Bank42

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While Deutsche Bank had once sought to compete with America's big banks on Wall Street, the German lender has been pummeled by scandals, probes and massive fines stemming from the financial crisis and other issues in recent years. The latest overhaul will see Deutsche (NYSE:DB) exit the global equities business and shed 18,000 jobs, booking charges of €7.4B through 2022, while it won't pay a dividend this year or next. The German bank also expects to report a net loss of €2.8B for the second quarter, before it narrows its focus on serving European companies and retail-banking customers.

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https://seekingalpha.com/article/4273798-wall-street-breakfast-sweeping-overhaul-deutsche-bank?source=feed_all_articles

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