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Deutsche Bank’s “shrink-it-to-win-it” strategy delivers providence in pandemic

A relentless drive to cut costs under CEO Christian Sewing’s “shrink-to-win” strategy and an ability to act as a one-stop shop for wealthy Asians at the helm of family-owned businesses helped Deutsche Bank AG withstand the double whammy of COVID-19 and lower interest rates. Losses before tax for the full year 2020 at the private banking business more than halved…

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