Serious AMDK Bank Deutsche’s Investment Arm To Close Shop ... Huat Ah!

[Pinkieslut]

Deutsche Bank Planning to Close Most Asia Equity Businesses
Cathy Chan

• Lender relied on region for 12% of its total revenue last year

Deutsche Bank is planning to shutter the majority of its equities business in the Asia-Pacific region as part of a restructuring to be announced as soon as Sunday, a person with knowledge of the matter said.
The Frankfurt-based lender expects to stop offering trading of cash equities, equities research and may no longer underwrite initial public offerings in the region, the person said, asking not to be identified as the matter is private.
As many as half the Asia equities staff will leave initially and the remainder later this year, the person said, adding that the final decision depends on the bank’s supervisory board meeting on Sunday. The lender may keep its margin lending business, the person said.
What’s a Bad Bank and How Can It Help Deutsche Bank?: QuickTake
Deutsche Bank’s supervisory board is convening to adopt a far-reaching plan presented by Chief Executive Officer Christian Sewing that’s built around dramatically shrinking and perhaps even shuttering equities trading outside Europe, people familiar with the matter have said. Peter Selman, the head of equities, is among executives said to be leaving the bank. Asia has been one of the bright spots for equity issuance revenue for Deutsche Bank.
Some employees at the bank’s offices in Hong Kong have already started packing their belongings, the person said. Deutsche Bank relied on Asia Pacific for 12% of its 25.3 billion euros of revenue last year. The corporate and investment bank unit, which includes equity trading, accounted for 2.51 billion euros of income from the region, company filings show. Deutsche Bank had about 20,000 employees in Asia Pacific, about a fifth of its combined workforce.
A Deutsche Bank spokesman declined to comment.
Deutsche Bank’s total revenue from trading stocks and related derivatives slumped 18% to 468 million euros in the first quarter from a year earlier as it experienced “challenging market conditions” and lost income after shrinking the business.

 

[Dr Christopher Cheok C S]

ya, they are in talks to sell to HSBC, SCB and DBS

 

[Pinkieslut]

 

[laksaboy]

If Deutsche Bank falls, the EU will fall... and that's a good thing.

Brexit, Italexit, Frexit will happen by default, no referendums required.

The time has come for the nationalists to rise up and drive the EU-loving traitors (many in Brussels) out of town.

 

[mudhatter]

Did Ah Nehs fuck this up too? Another feather in their cap. After Boeing crash

 

[Pinkieslut]

Deutsche Bank, a pillar of European finance, unveils radical restructuring. It will cut 18,000 jobs
By Julia Horowitz, CNN Business
Updated 1:49 PM EDT, Sun July 07, 2019

London(CNN Business)Deutsche Bank will cut 18,000 jobs and dramatically shrink its investment bank as part of a costly overhaul that marks a retreat from Wall Street after two decades of intense competition with American rivals.
The German bank said Sunday that it would shutter its equities sales and trading business, while creating a "bad bank" for €74 billion ($83 billion) in assets that eat up too much capital. The assets will be sold over the coming years.
"Today we have announced the most fundamental transformation of Deutsche Bank in decades," CEO Christian Sewing said in a statement, calling the moves a "restart."