Humbled Deutsche Bank faces battle in its own backyard

Since Deutsche Bank embarked 20 years ago on its ultimately failed but costly drive to become a Wall Street trading powerhouse, a lot has changed in its domestic market.

FRANKFURT: Online retailer Zalando is just the kind of fast-growing German business with foreign expansion plans that Deutsche Bank Chief Executive Christian Sewing needs to help drive the struggling lender's recovery.

In an attempt to draw a line under years of scandals and heavy losses, Sewing is pulling back from investment banking and rebuilding Deutsche Bank's corporate division by deepening existing relationships and attracting clients beyond its traditional blue-chip customers.