Once feared for its deep pockets and ability to buy up talent on Wall Street, Deutsche Bank is struggling to come to grips with a U.S. banking strategy gone badly awry.

In a strong sign that the bank's ambitious plan to expand U.S. investment banking and corporate finance efforts has gone off the rails, two top-ranking officers have resigned, and about 100 staff members in New York are said to have been given notice. Sources added that morale is sinking among New York employees as operations are put under review.

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