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1-min read

Deutsche Bank CEO Pledges to Buy Bank's Sliding Shares in Wake of Restructuring

CEO Christian Sewing announced the commitment to analysts when explaining the lender's restructuring. Shares were down about 5% as he spoke and hit a record low last month.

Reuters

Updated:July 8, 2019, 7:29 PM IST
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Deutsche Bank CEO Pledges to Buy Bank's Sliding Shares in Wake of Restructuring
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Frankfurt: Deutsche Bank chief executive officer said on Monday that he planned to invest a "substantial amount" of his fixed salary in the lender.

CEO Christian Sewing announced the commitment to analysts when explaining the lender's restructuring. Shares were down about 5% as he spoke and hit a record low last month. He said that he would be "putting his money where his mouth is" and that details would be announced soon.

On Sunday, the bank confirmed that it was closing huge parts of its trading businesses, with staff in its equities division in Sydney and Hong Kong among the first to be told their roles would go.

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