BERLIN – Germany's biggest bank, Deutsche Bank AG, says it is restructuring its business divisions and making several changes to its management structure.
The bank said Sunday that its corporate banking and securities division will be split in two, and its asset and wealth management division also will be divided into separate units.
The company's management structure also will be overhauled. It will scrap its group executive committee, a body that includes the bank's top executives as well as regional and other representatives, and slightly expand its management board.
Deutsche Bank says the aim is "to reduce complexity of the bank's management structure, enabling it to better meet client demands and requirements of supervisory authorities."
The bank earlier this month said it expects a big third-quarter loss, citing write-downs and litigation costs.