“Deutsche Bank is working on measures to accelerate its transformation so as to improve its sustainable profitability,” a spokeswoman said by e-mail. The Wall Street Journal first reported on the plan to cut as many as 20,000 jobs. Reuters on Sunday reported that the lender is looking to hire 300 people globally for its wealth management arm by 2021. It plans to hire those managers across Europe, America and emerging markets, according to the report, which cited global head of wealth management Fabrizio Campelli. Sewing is likely to take over formal oversight of the investment bank at the management board level, they said.

Source: Taipei Times July 01, 2019 15:56 UTC