Deutsche Bank plans cuts in U.S. equities, prime unit -sources

Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters. Chief Executive Officer Christian Sewing told shareholders at the bank’s annual meeting on Thursday it was prepared to make “tough cutbacks” at its investment bank. The bulk of the anticipated U.S. cuts will come from its money-losing equities business, which includes cash equities trading.

Source: Yahoo.com