UPDATE 1-Deutsche Bank held talks with Citi, BNP on shedding chunk of equities business -WSJ [Reuters (UK)]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Reuters
Deutsche Bank held talks with Citi, BNP on shedding chunk of equities business: Wall Street Journal - Reuters 3 Min Read (Reuters) - Deutsche Bank ( DBKGn.DE ) has held talks with Citigroup Inc ( C.N ), BNP Paribas SA ( BNPP.PA ) and others over the possible sale of parts of its equities business, the Wall Street Journal reported on Tuesday. Deutsche Chief Executive Officer Christian Sewing said in May that he planned to make cutbacks to the bank’s investment banking and trading operations to appease investors unhappy about its underperformance. Shares in the German lender hit a record low last month. Sources told Reuters last month that Deutsche plans to cut the size of its U.S. equities business, leaving only a skeleton operation to service corporate and high-net-worth clients. The business has struggled to compete with Wall Street rivals. Deutsche Bank, Citigroup and BNP Paribas declined to comment. Reuters reported in May that Deutsche’s prime brokerage services, which serve
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