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Deutsche Bank Gives Investor Cerberus Hands-On Role in Overhaul

Nicholas Comfort, Sarah Syed
Deutsche Bank Gives Investor Cerberus Hands-On Role in Overhaul

While most Deutsche Bank AG investors must wait for news about the lender’s latest revamp effort, one of its largest shareholders may get a level of access that the rest don’t share. Germany’s biggest bank has hired a unit of Cerberus Capital Management to advise the lender on how to hit Chief Executive Officer Christian Sewing’s profit targets. Cerberus Operations Advisory Company will help the bank drive down costs and squeeze out extra revenue, a person with knowledge of the matter told Bloomberg News, asking not to be identified discussing private information.