Deutsche Bank’s plan to downsize is a boon for U.S. investment banks. Germany’s largest bank recently announced that it will cut 18,000 jobs and shut its global equities sales and trading business. The institution will now focus on corporate banking, and asset and wealth management. The bank has been under pressure after years of low profitability, money-laundering scandals and more competition from U.S. investment banks on its own turf.
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