BERLIN (dpa-AFX) – The head of Deutsche Bank, Christian Sewing, sees his company on the right track with the renovation. “We have already made good progress in implementing our strategy,” said Sewing at the Deutsche Bank reception in Berlin on Thursday evening. “We keep what we promised.” The feedback from investors, analysts and rating agencies is positive. “Of course, our share price is still far from where we want it to be,” admitted Sewing, “but the significant price increase over the past few weeks shows that investors are also beginning to believe in the success of our transformation.”
Sewing initiated a fundamental realignment of the institute in early July. Investment banking, which has cost the bank punishments worth billions, is heavily trimmed. The core of the realigned Deutsche Bank is to be a corporate bank that looks after medium-sized companies, family businesses and multinational corporations.
The Executive Board plans to reduce the number of full-time positions in the Group by around 18,000 to 74,000 worldwide by the end of 2022. So far, the bank has not made public how much the job cuts will affect individual regions or divisions. At the end of September last year, there were 89 958 full-time positions in the Deutsche Bank Group./maa/ben/DP/he
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