Deutsche Bank's Unloved Assets to Cast Long Shadow in Overhaul
- CEO Sewing targets 2022 for disposal of non-core holdings
- Some assets may weigh on balance sheet even after they’re sold
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A key pillar of Christian Sewing’s sweeping overhaul of Deutsche Bank AG is a plan to sell or wind down billions of euros in low-profit assets to help pay for the 7.4 billion-euro ($8.3 billion) revamp. While some of that will be offloaded quickly -- via a special wind-down unit -- and may fetch a decent price, other holdings will remain with the bank for years, tying up capital that could be spent on the restructuring.
The chief executive officer has given himself through 2022 to finish the job, about a year longer than it took two of the bank’s largest European competitors to close their non-core units. Here are three charts to describe the challenge ahead.