7/8/2019, 5:26 AM (Source: TeleTrader)
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Deutsche CFO says latest overhaul is 'final'

Deutsche Bank AG CFO James von Moltke commented on the company's announced €7.4 billion overhaul, stating he is "very confident this is the final restructuring for this organization. We're looking forward, frankly, to having that behind us and focus on our core business going forward." On Sunday, the bank revealed it will diminish its activities in corporate and investment banking as a result and will completely exit its global sales and trading business.

"We are reorienting the bank away from the more volatile businesses towards very stable, very predictable businesses and as investors see both that and our execution against our targets, we believe there is a significant re-rating of the company that’s available," he told CNBC, adding that the plans for the move "have been underway for some time."

Breaking the News / DJ