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Deutsche Bank Cuts Again. Not Even Fruit Bowls Are Safe

Steven Arons
Deutsche Bank Cuts Again. Not Even Fruit Bowls Are Safe

The list of perks at Deutsche Bank AG is shrinking fast. The frugal ethos described by half a dozen people with knowledge of the company’s policies reflects Chief Executive Officer Christian Sewing’s focus on saving after a series of botched turnaround efforts. The appointment of a new chief operating officer, Frank Kuhnke, as a direct report to Sewing is a signal that the CEO wants to have better control over processes and expenses.