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SOUTH AFRICA: Deutsche Bank announces cut backs – LOUSY DAY FOR SA TODAY I WOULD SAY!

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Deutsche Bank scales back in South Africa in turnaround plan

JOHANNESBURG, June 4 (Reuters) – Deutsche Bank will shut down its South African corporate broking, advisory and sponsor-services, it said on Monday, as part of its plan to return to profitability under new Chief Executive Christian Sewing.

“There will be an orderly wind-up of the Advisory, Corporate Broking and Sponsor Services businesses over a period of up to six months,” spokesman Stuart Haslam said in a statement. —— AUTO – GENERATED; Published (Halifax Canada Time AST) on: June 04, 2018 at 12:31PM

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