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Deutsche Bank says cuts coverage for 3,400 clients in trading
December 2, 2016 / 5:31 PM / 10 months ago

Deutsche Bank says cuts coverage for 3,400 clients in trading

FRANKFURT, Dec 2 (Reuters) - Deutsche Bank’s Global Markets division will reduce financial services it offers to about 3,400 clients in equities trading, a spokesman for the lender said on Friday, citing an internal memo.

Deutsche Bank Chief Executive John Cryan has pledged to intensify the lender’s restructuring effort, warning that the bank faces tough times ahead as it finalises talks with U.S. justice authorities over a multi billion dollar fine.

In October 2015, Cryan had said at a strategy presentation that Deutsche Bank would reduce the number of clients in its Global Markets and Corporate & Investment Banking divisions by about 50 percent. (Reporting by Arno Schuetze; Editing by Ludwig Burger)

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