It also plans to slim the division focused on fixed-income investments. "In refocusing the financial institution round our purchasers, we're returning to our roots and to what as soon as made us one amongst the leading banks on this planet", he stated.
The bank said the layoffs would reduce annual costs by six billion euros ($6.7 billion) over the same period.
The as soon as-mighty German agency's retreat from global investment banking leaves Barclays because the leisure European financial institution standing in a sector dominated by USA giants admire Goldman Sachs, JP Morgan Tear and Morgan Stanley.
Deutsche Bank announced Sunday it would cut 18,000 jobs - about 1 in 5 employees - by 2022, as part of its new round of restructuring. That would mark a fourth consecutive year of decline, down more than 30 percent from 2015. Shareholders received a dividend of only 11 cents per share for 2017 and 2018.
Deutsche said it expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges and loss for the full year.
The reorganization announcement comes after the failed merger negotiations with its national rival, Commerzbank, BBC notes.
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"This could be a real new beginning for Deutsche Bank", said Szukalski, who also sits on the bank's supervisory board.
The bank will set up a new so-called "bad bank" to wind-down unwanted assets, with a value of 74 billion euros of risk-weighted assets.
Deutsche Bank had about 20,000 employees in Asia Pacific, about a fifth of its combined workforce. There was no word on where the jobs would be cut, but the bank is dropping all business involving the buying and selling of shares, and much of that work happens in London and NY.
The bank was hit hard by a financial crisis a decade ago.
But that had not ended the negative headlines.
Deutsche Bank has been operating in Australia since 1973, with offices in Sydney, Melbourne and Perth.
Deutsche Bank was one of the few banks willing to lend to Mr Trump after a series of corporate bankruptcies and defaults starting in the early 1990s.