DEUTSCHE BANK FIGHTS SHAREHOLDERS FOR US BUSINESS – Deutsche Bank is now under the microscope of their shareholders, as some of the larger shareholders want DB to dump or severely reduce their US investment bank. Despite the bank promising to scale back of their US business, a top 10 shareholder in the bank said, “Whatever the planned reductions are for the US business, it wont be enough. That business hasn’t delivered for a long time and now something far-reaching has to done. There’s a real argument for getting rid of the US arm altogether.” Christian Sewing was unwavering at a presentation saying, “You will have seen numerous headlines about Deutsche Bank in recent weeks including some saying we are retreating from the US but let me repeat, we are committed to our presence in the US. This is not up for discussion.” A former Head of Equities at DB said, “The US equities team should become just electronic, which means getting rid of the sales desk. The US research team also needs to be radically slimmed down.” The bank needs to focus on high margin business in equities: Corporate Derivatives and Prime Brokerage. “Everything else should be closed down. Its not rocket science – the business has struggled to make money and has been poorly managed.” #SpartanInternational