Within Europe’s strife-ridden financial markets economies, Germany remains in the strongest position, with its banking sector in a strong position in comparison to its Western European neighbors.
Strategic decisions to streamline business are not exclusive to regions within Europe which are exercising belt-tightening measures due to protracting economies, however, as Deutsche Bank has today announced its intention to scale back its commodities business, in order to focus on its core products which consist of financial derivatives and precious metals.
Reduction In Trading Desks
According to Deutsche Bank’s announcement today, the company intends to make a complete exit from dedicated trading desks which cover energy, agriculture, base metals and dry bulk which will be conducted by a newly created business unit designated Special Commodities Group which will be charged with the responsibility of winding down these businesses.
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Doubling Up On Currencies Platform
The financial derivatives and precious metals businesses will be integrated into Deutsche Bank’s Fixed Income and Currencies platform to take advantage of existing synergies subsequent to this particular corporate restructure having taken place.
Colin Fan, Co-Head of Corporate Banking & Securities at Deutsche Bank, made a corporate statement today to the effect that, “As part of Strategy 2015+, we are actively managing and reviewing our business portfolio. The decision to refocus our commodities business is based on our identification of more attractive ways to deploy our capital and balance sheet resources. This move responds to industry-wide regulatory change and will also reduce the complexity of our business.”