Deutsche Bank Considers More Cuts to Back Office Amid Cost Headwinds
- CFO von Moltke sees ‘wiggle room’ by cutting back office
- CEO Sewing is looking at deals again after slashing costs
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Deutsche Bank AG is considering deeper cuts to its support functions after running up a few unexpected bills, even as it starts toying again with the idea of takeovers.
Chief Financial Officer James von Moltke told shareholders attending the bank’s virtual annual general meeting on Thursday that there was “wiggle room” for savings, “for example by interlocking more closely the back office of the corporate bank and the investment bank.”