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Deutsche Bank’s Withdrawal From Equities Goes Global

Jake Rudnitsky, Steven Arons, Donal Griffin
Deutsche Bank’s Withdrawal From Equities Goes Global

Deutsche Bank AG is about to embark on a retreat from a swathe of equities markets across the world, including some on its own doorstep in Europe, according to people familiar with the matter. Germany’s biggest lender, which is expected to announce a range of restructuring measures to coincide with its annual shareholder meeting Thursday, will sharply reduce its presence in the U.S. market, and has also started cutting activity in the Central Europe, Middle East and Africa region, the people said, asking not to be identified discussing private information. Chief Executive Officer Christian Sewing has indicated that the bank will scale back the business that services hedge funds and the trading of stocks will also be affected, according to people with knowledge of the discussions.