Deutsche Bank AG, beaten down by lagging performance, will retreat from trading and lending businesses dominated by Wall Street banks while asking investors for faith that its new chief executive can succeed where others have failed. Thursday’s message—which came in tandem with disappointing first-quarter earnings—echoed elements of the German lender’s strategy pronouncements when John Cryan took over as CEO in 2015, and again a year ago when the bank raised $8.5 billion in capital.

Source: Wall Street Journal April 26, 2018 06:04 UTC