Deutsche Bank CEO speaks of 'tough cutbacks' at contentious shareholder meeting [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Deutsche Bank CEO speaks of 'tough cutbacks' at contentious shareholder meeting A signs stands above the entrance to a bank branch in Frankfurt, Germany, on Monday, July 4, 2016. Krisztian Bocsi | Bloomberg | Getty Images The embattled German lender saw its share price hit a record low Thursday, down nearly 5% since the start of the year. On Monday, UBS Shareholder grievances Reports this week suggested substantial shareholders will push for the removal of Deutsche Chairman Paul Achleitner ahead of his term expiry in 2022. However, CNBC sources said Tuesday that the bank expects Achleitner to retain his premiership with around 60% shareholder approval. Deutsche also faces pressure to trim its investment banking division following the collapse of merger talks with domestic rival Commerzbank Addressing shareholders Thursday, CEO Christian Sewing said the bank will accelerate its transformation by "rigorously focusing our bank on profitable and growing businesses which are particularly
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