Deutsche cuts hard but looks out for equity and AT1 investors

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By Jasper Cox, Owen Sanderson
08 Jul 2019

Deutsche Bank's far-reaching restructuring plan to pull out of equity sales and trading and streamline the investment bank elsewhere involves a tie-up with BNP Paribas for parts of its business. The troubled German lender also signalled the advantage of a recent rule change to additional tier one coupon payments in allowing it to proceed with the changes.

Such an announcement had been widely-expected, following the collapse of early stage discussions on a merger with Commerzbank in late April, although the details were unknown until the announcement on Sunday.

Since Christian Sewing took over as chief executive last year, the stock has continued ...

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