Deutsche Bank to Exit Global Equities, Trading Business – Wall Street Journal

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Deutsche Bank AG moved Sunday to gut its global ambitions as a trading powerhouse, cutting 18,000 jobs and retreating to its German banking roots in a radical overhaul to try to save itself after years of decline.

Deutsche Bank’s restructuring plan reorders the bank’s executive ranks under Chief Executive Christian Sewing, with several senior officials leaving and business lines redrawn for the third time in four years.

The…

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