Deutsche Bank chief delivers tough message on investment bank
Deutsche Bank isn’t worth what it once was and can’t pay employees and shareholders what they’re used to, according to its new boss
Deutsche Bank’s new boss delivered a harsh message to shareholders and employees: Europe’s biggest investment bank isn’t worth what it once was and can’t pay them what they’re used to.
Co-chief executive officer John Cryan decided to mark down the value of the securities unit because of rules that will force the company to hold more capital, Deutsche Bank said in a statement.
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