Restructures on the horizon for Deutsche Bank
(19 October 2015 – Germany) In order to streamline operations, Deutsche Bank will make changes in its management structure, and restructure divisions, the bank said on Sunday.
The German bank's corporate banking and securities division will be split in two, and its asset and wealth management division also will be divided into separate units.
The bank will also get rid of its group executive committee and slightly expand its management board. In addition, it will eliminate 10 of the current 16 management board committees, and several top managers will change positions or leave.
Deutsche Bank said the aim is "to reduce complexity of the bank's management structure, enabling it to better meet client demands and requirements of supervisory authorities."
The news follows an announced earlier this month from the bank that it expects to report a third-quarter net loss of €6.2 billion (A$9.7 billion) due to factors including write-downs and litigation costs.
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