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Terminations/Cost Cutting

Deutsche Bank Cuts Ties With 3,400 Clients in Trading Business

December 2, 2016

[Photo:  Frankfurt Skyline;  by Christian Wolf / Wikimedia Commons]


Deutsche Bank's Global Markets division will immediately cut ties with about 3,400 clients in its debt and equities sales activities – meaning it will cease debt sales services to some financial institutions and hedge funds as well as equity sales activities, the execution of equities trading orders and equity structuring activities for some clients.


While DB finalizes talks with U.S. justice authorities over a multi-billion dollar fine related to U.S. mortgages, CEO John Cryan has stepped up the bank’s restructuring process – which includes shedding clients that cost more to service than they bring in returns. 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%.


Deutsche Bank is still among the top 5 trading houses in debt and top 10 in equities globally. But the bank has lost market share as it retreats from a period of expansion, in which it had focused mainly on revenue growth and less on profitability.