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Exclusive: Deutsche Bank open to U.S. revamp in merger talks - sources

 Exclusive: Deutsche Bank open to U.S. revamp in merger talks - sources

By Matt Scuffham

NEW YORK (Reuters) - Deutsche Bank said it was open to further restructuring of its U.S. investment bank after Commerzbank executives sought clarity on its plans during merger talks, according to three sources familiar with the matter.

The future of the bank's U.S. trading and investment banking presence had already been in question, with some shareholders calling for further cuts on top of ones announced last year. Speculation has intensified following confirmation of the merger talks last month.

Among the options floated by the bank during the talks were a further scaling back of its U.S. equities business including prime brokerage services for hedge funds and reductions at its corporate finance business, the sources said.

Commerzbank wanted reassurances Deutsche Bank was prepared to make deeper cuts at its loss-making U.S. business as a condition of proceeding with the merger talks, the sources said.

(Additional reporting by Tom Sims in Frankfurt; Editing by Chris Reese)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Apr 06, 2019 00:06:48 IST