FRANKFURT - Deutsche Bank AG will offer details of its latest major restructuring along with a preliminary 2000 earnings report today.
Germany's largest bank, which has a sizable U.S. presence that includes Deutsche Banc Alex. Brown, has said it plans to meld its five business divisions into two, with one focused on retail banking and asset management and the other on investment banking. But it so far it has not divulged more than a basic outline of its plans.
Deutsche Bank has said it sees restructuring as the key to wringing maximum efficiency out of its business units. The company has undergone three episodes of restructuring in the past five years.
Last week chairman Rolf Breuer said he expects the revamp to show a payback of lower costs and higher revenues by 2003. A one-time restructuring charge to cover costs related to the move is expected to be announced at today's press conference.
Sources close to Deutsche Bank say its latest restructuring could eventually lead it to break its businesses into two completely separate banks, as each unit's business develops through mergers, acquisitions and alliances.