Deutsche Bank CEO speaks of ‘tough cutbacks’ at contentious shareholder meeting

“We’re prepared to make tough cutbacks,” he said, without elaborating on where in investment banking the cuts would occur. Shares in Deutsche Bank, which have lost 38% since last year’s shareholder.

Deutsche Bank executives met with shareholders Thursday, as the bank’s tumbling share price and growing backlog of scandals place the board firmly in the firing line. The embattled German lender saw its share price hit a record low Thursday, down nearly 5% since the start of the year.

"We’re prepared to make tough cutbacks," he said, without elaborating on where in investment banking the cuts would occur. Story continues Shares in Deutsche Bank, which have lost 38% since last.

Deutsche Bank CEO speaks of ‘tough cutbacks’ at contentious shareholder meeting. elliot smith. cnbc. 23 May 2019. Reblog. Share. Tweet. Share. View photos. A signs stands above the entrance to a Deutsche Bank AG bank branch in Frankfurt, Germany, on Monday, July 4, 2016.. CEO Christian Sewing.

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Deutsche Bank faces pressure to trim its investment banking division following the collapse of merger talks with domestic rival Commerzbank.

 · Deutsche shares have risen 16% over the past month, bouncing off an all-time low in early June after CEO Christian Sewing called for "tough cutbacks" at a contentious shareholder meeting. However, the multiyear decline is evident in a share price at Friday’s close of 7 euros, as opposed to 112 euros at their pre-crisis peak.

Deutsche Bank ‘very confident’ job cuts will be final restructuring. July 7, 2019 by admin 0 Comments. Finance. Share on Facebook. Share on Pinterest. Share on LinkedIn. James von Moltke, chief financial officer of Deutsche Bank AG, speaks during a fourth quarter results news conference.

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 · Deutsche shares have risen 16% over the past month, bouncing off an all-time low in early June after CEO Christian Sewing called for “tough cutbacks” at a contentious shareholder meeting. However, the multiyear decline is evident in a share price at Friday’s close of 7 euros, as opposed to 112 euros at their pre-crisis peak.

Deutsche Bank executives met with shareholders Thursday, as the bank’s tumbling share price and growing backlog of scandals place the board firmly in the firing line. The embattled German lender saw its share price hit a record low Thursday, down nearly 5% since the start of the year.