After Deutsche Bank cuts, where will the growth be?

LONDON/FRANKFURT: For Deutsche Bank chief executive Christian Sewing, shrinking the group's investment bank will be the relatively easy: if expensive: part of his restructuring plan.

Transaction banking, one of the less glamorous areas of finance, is a growing focus at several of Deutsche's rivals, as it requires less capital and is not as cyclical as investment banking. In investment banking Deutsche has said it wants to retain a focus on advising on M&A deals and on helping to list companies and issue bonds. The bank remains a major player in this space, but trails U.S. rivals, while some European competitors are gaining some market share.

In private banking, Deutsche has said it plans to hire 300 new relationship and investment managers by 2021 as part of a plan to bulk up in the sector.

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