Deutsche Bank's Cuts Complicate Steps to Expand Asia Clout
- Firm has slipped in wealth, debt capital markets and trading
- Deutsche Bank stays ‘absolutely committed’ to the region
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Job cuts and restructuring announced by Deutsche Bank AG this week risk making it harder for the German lender to claw back market share at its surviving Asian units.
Over the past five years, Deutsche Bank has fallen down the rankings for Asian debt capital markets and wealth management, while it has lost the top spot to rivals in fixed-income, currencies and commodities trading. Despite these slips, the businesses contributed to a record profit for the firm in the first quarter of 2019. But retrenchments in equities, research and investment banking could make it hard to maintain that performance.