With these measures, Germany’s largest financial institution wants to reduce costs, says the insider. The bank, which will present its quarterly figures on April 27, declined to comment on the plans.
The position of the outgoing head of private customers Karl von Rohr is to be filled despite the cost-cutting plans, it said. The institute announced on Tuesday that von Rohr would let his contract as head of the private customer bank expire at the end of October. The bank wants to decide “soon” about his successor. “Bloomberg” was the first to report on the planned downsizing of the board.
CEO Christian Sewing had already said in February that he could not rule out job cuts. Despite a recent improvement in the cost/income ratio, Sewing has made further cost reductions. In a European comparison, Deutsche Bank still has high costs in relation to earnings.
In XETRA trading, Deutsche Bank shares closed 0.93 percent lower at EUR 9.91.
Frankfurt (Reuters)
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