Deutsche Bank will exit its global equities business and slash 18,000 jobs in sweeping overhaul

[dalton99a]

https://www.cnbc.com/2019/07/07/deutsche-bank-will-exit-its-global-equities-business-and-scale-back-investment-bank.html
Deutsche Bank will exit its global equities business and slash 18,000 jobs in sweeping overhaul
Reuters

Deutsche Bank plans to scrap its global equities business and scale back its investment bank in a sweeping, 7.4 billion euro overhaul designed to turn around the struggling German flagship lender.

The bank expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges.

Deutsche said that it would also cut its fixed income operations, especially its rates business.

It will create a new unit to wind-down unwanted assets, with a value of 74 billion euros of risk-weighted assets.

Chief Executive Officer Christian Sewing flagged an extensive restructuring in May when he promised shareholders “tough cutbacks” to the investment bank. The pledge came after Deutsche failed to agree a merger with rival Commerzbank.

[CDerekGo]

1. One question Mr CEO Christian Sewing

How much of Bonus do you receive for this shitshow of a loss? I'm betting it's not ZERO?

[at140]

3. All failing CEO's get golden parachutes..

CEO is the fox guarding the chicken coup (stockholders equity).

[Roland99]

2. Wow. Curious.

Wonder how many of those risky assets involve Jared?

[Wellstone ruled]

4. Trump Crime Syndicate is into these people

to the tune of 340 million at floating rates of interest. Kushner is into them for a estimated 400-800 million via their Private Banking operation in which the loans are most likely funded by the Saudi's and Emerit's ,and Deutsch Bank is the Servicing Agent.

BTW,Deutsch is forming a special Bank with in their operations to try and isolate approximately 50+Billion in bad loans. German Press claims the bulk is non performing and under performing Real Estate Loans in the US. Hint was toward Trump and Others.

[safeinOhio]

6. My guess is that they will write off

Kushner/trump bad loans..win, win for all the crooks.

[Wellstone ruled]

7. That comment was

thrown out for discussion on Bloomberg European over night two weeks ago.

German Banking Officals who are in direct control of Deutsche via the German National Bank. The German State could shut this guy's down in a heart beat.

[lindysalsagal]

5. And so the last company to loan to the trumps folds up it's tent and goes home

Because the frump taint wasn't smelly enough: It ruined Deutsche bank, too.

Now, they're really going to be beholden to putin: His pals are the only ones left who'll give the fool money.

[superpatriotman]

8. Unwanted assets...

What could go wrong?