Life for Deutsche Bank CFO James von Moltke at the moment means having to spend a lot of time defending his bank’s latest restructuring plans.
After firing off a long letter in August to refute assertions made in an opinion piece that appeared in American Banker, his ‘fireside chat’ at September’s Barclays global financial services conference had to cover similar ground.
CEO Christian Sewing announced in early July that the bank would exit most of global equities, including transferring its prime finance and electronic equities franchise to BNP Paribas, for which a master transaction agreement was announced on September 23.
It is retaining what it describes as a “focused” equity capital markets capability.
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