Krisztian Bocsi | Bloomberg | Getty Images
Statues stand outside a Deutsche Bank AG branch in Frankfurt, Germany, on Thursday, Oct. 20, 2016.
Deutsche Bank will be conducting a global review of its investment bank that will could result in cost cuts, a person with direct knowledge of the matter said on Wednesday.
The review, known internally as Project Colombo, will result in recommendations that will could identify further job cuts yet could also include the exit or strengthening of certain activities, the person said, speaking on condition of anonymity.
The study will be focused especially on the bank’s trading activities from the United States, the person said.
The German lender, from the throes of a major restructuring, has been under pressure through investors to trim costs. The bank said earlier This particular month that will the idea was behind in its cost-cutting objectives.
The review follows news on Tuesday that will Deutsche Bank has begun the search for a brand new chief executive to replace John Cryan, who has come under fire through investors after the bank reported three consecutive years of losses.
Bloomberg first reported the investment bank review earlier on Wednesday.