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The use of AI “massively increased productivity” while robots performed "680,000 hours of manual work," a Deutsche Bank executive told Financial News.
Deutsche Bank tumbles on a disappointing quarterly loss after the ‘necessary evil’ spending on a massive overhaul
The stock tanked 6.5%. The bank is spending more to axe 18,000 jobs and as part of a major restructuring. "Bond trading is about all it has left."
Deutsche Bank’s CEO fretted about ‘mercenary,’ ‘buccaneering’ traders ruining the brand before saying ‘The party i...
The Financial Times chronicled how Deutsche Bank went from the world's largest holder of assets to its subsequent decline.
Deutsche Bank is about to undergo its biggest restructuring ever. Here’s what we know about what’s going on at the German bank.
The CEO of Germany's biggest bank is expected to announce a massive overhaul on Sunday. It's been a rough few years for the beleaguered lender.
Deutsche Bank and Commerzbank are finally merging — but critics worry about job cuts and patchy past deals
Deutsche Bank and Commerzbank have started formal merger talks, but job losses, poor mergers in the past and existing issues have raised eyebrows.
Deutsche Bank’s stock is getting hit. Again. This time it’s because of weaker than expected earnings.
Deutsche Bank fell 2% after the bank reported earnings. The shares have had a rollercoaster ride lately, and have plunged 48% in the past year.
Barclays says talk of any Deutsche Bank merger is a red flag for earnings — and the UK bank is slashing its price targets
"Profitability may have deteriorated further in the fourth quarter, and the current strategy/targets are looking less and less viable," Barclays said.
CEO Christian Sewing, who took over Germany’s largest lender in April, told staff “we must concentrate on what we truly do well,” and said the bank would slash its equities sales and trading headcount by 25%. Investment bank leverage exposure will also be cut by 10%.
Deutsche Bank's aggressive cost cutting programme comes as the bank adjusts to life under new CEO Christian Sewing, who replaced Brit John Cryan after a swift ousting in April.
‘There is no time to lose:’ Deutsche Bank is embarking on a major overhaul — and it will lead to big job losses
The German lender plans to scale back US operations in both rates sales and trading, while corporate finance operations in both the USA and Asia will shrink.