Reuters exclusively reports regulators press Deutsche Bank CEO to drop investment bank role

Reuters reported exclusively that regulators are pressing Deutsche Bank Chief Executive Christian Sewing to relinquish day-to-day oversight of its sprawling investment bank. According to Reuters sources, European Central Bank officials have held conversations with Deutsche Bank managers, including Sewing, in which they said the CEO should delegate direct control of the division to another board member. Germany’s biggest bank is one of the few major banks in the world to assign day-to-day oversight of investment banking to its chief executive. At most banks, other board members oversee the division.