Deutsche Bank CEO willing to give up investment bank oversight role

Deutsche Bank CEO

Deutsche Bank CEO willing to give up investment bank oversight role

Deutsche Bank (DE: DBKGN) DOWN 0.48% AT 12.34

Deutsche Bank (DE: DBKGN) CEO Christian Sewing, is willing to give up his role overseeing the investment bank in the foreseeable future, a person with knowledge of the matter said on Friday, a move likely to reassure regulators.

Germany’s biggest bank is one of the few major banks in the world to assign day-to-day oversight of investment banking to its chief executive. At most banks, other board members oversee the division.

The person, speaking on condition of anonymity, said Sewing never intended to permanently keep this role that he had added to his duties in a management overhaul in 2019.

Deutsche Bank and its regulators, the European Central Bank and BaFin, declined to comment.

Reuters reported in January that Sewing was under pressure from regulators to relinquish day-to-day oversight of the investment bank. Regulators are worried that Sewing has too much on his plate, potentially leaving the investment bank open to operational hazards.

On technical fronts Deutsche Bank (DE: DBKGN) RSI stood at 51.03 and currently stock is trading Above 20 and 50 Days MA and Below 5 Days Moving Averages. So, BUY position can be taken with following target and stoploss.

TRADE SIGNAL -: Deutsche Bank (DE: DBKGN)- BUY: 12.34, TARGET: 12.84, STOP LOSS: 12.02

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