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    DBK   DE0005140008

DEUTSCHE BANK AG

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MOVES-Deutsche hires team from HSBC to build Africa private banking

11/25/2021 | 09:42am EST
The logo of Deutsche bank is seen in Hong Kong

JOHANNESBURG, Nov 25 (Reuters) - Deutsche Bank has hired a team of four bankers from HSBC to build up its private banking business in Africa, an internal memo seen by Reuters on Thursday showed.

Despite pledging to cut 18,000 staff as part of a 2018 restructuring, a process it is only part way through, Deutsche is beginning to build back in some areas, including its investment bank.

The memo said Paul Sayers will lead the team as head of Deutsche's international private bank Africa.

Sayers and the three members of his team, who have worked together for a number of years, will join Deutsche on Dec. 1 and be based in Zurich, Switzerland.

"The Middle East and Africa region offers a significant growth opportunity," the memo said, adding that Deutsche's presence over decades in Egypt, Nigeria and South Africa means it is well positioned.

Deutsche executives told Reuters last month that it saw a range of growth opportunities in Africa. The bank said on Thursday it aimed to solidify, grow and diversify its IPB client book on the African continent.

Sayers has 19 years of wealth management experience and has worked previously with ultra-high net worth clients in Africa, particularly from South Africa, Deutsche said. (Reporting by Emma Rumney; Editing by Kirsten Donovan and Alexander Smith)


ę Reuters 2021
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Analyst Recommendations on DEUTSCHE BANK AG
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Financials
Sales 2021 25 147 M 28 670 M 28 670 M
Net income 2021 1 848 M 2 107 M 2 107 M
Net cash 2021 53 831 M 61 372 M 61 372 M
P/E ratio 2021 14,6x
Yield 2021 2,25%
Capitalization 24 686 M 28 196 M 28 144 M
EV / Sales 2021 -1,16x
EV / Sales 2022 -1,47x
Nbr of Employees 84 512
Free-Float -
Chart DEUTSCHE BANK AG
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Deutsche Bank AG Technical Analysis Chart | DBK | DE0005140008 | MarketScreener
Technical analysis trends DEUTSCHE BANK AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Last Close Price 11,95 €
Average target price 12,08 €
Spread / Average Target 1,04%
EPS Revisions
Managers and Directors
Christian Sewing Chief Executive Officer
Karl von Rohr President
James von Moltke Chief Financial Officer
Paul Achleitner Chairman-Supervisory Board
Bernd Leukert Chief Technology, Data & Innovation Officer
Sector and Competitors