Deutsche Bank to Raise $8.5 Billion and Reorganize Some Operations -
By CHAD BRAYMARCH 5, 2017
LONDON — Deutsche Bank said on Sunday that it planned to raise an additional $8.5 billion in capital, reorganize its retail business in Germany
and combine its markets business with its corporate and investment bank in the latest reshaping under its chief executive, John Cryan.
It would cost 1.5 billion to 2 billion euros to reintegrate the business, Deutsche Bank said.
The bank said Deutsche Asset Management would remain an integral part of its business model,
but it hopes the offering will allow the unit to develop its business lines and attract additional talent through increased operational independence.
Deutsche Bank, Germany’s largest lender, had said on Friday
that it was preparing to raise up to €8 billion in new capital, confirming the expectations of many investors that the bank would need to shore up its balance sheet.
Deutsche Bank also said it would combine its global markets business with its corporate and investment bank.
A higher proportion of the division’s balance sheet is in time expected to be deployed to support corporate clients.”
Deutsche Bank also plans to sell a minority stake in its Deutsche Asset Management business in a partial initial public offering.