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July 9, 2019

Deutsche Bank cuts mark end to failed bid for global scale

By GEIR MOULSON
Associated Press

BERLIN — The radical and painful restructuring of Germany's Deutsche Bank, which is cutting 18,000 jobs, is the end of a long, failed attempt to compete with the global investment banking giants that left it overextended.

The bank plan unveiled Sunday aims to go “back to our roots” by refocusing on traditional strengths like serving corporate customers and wealthy individuals and cutting down on its stock-trading business and fixed-income investments.


 
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