Deutsche Bank to quit equities, shrink investment bank in 7.4 bln euro overhaul

Deutsche Bank said on Sunday it plans to exit its global equities business and scale back its investment bank in a sweeping, 7.4 billion euro overhaul designed to turn around the struggling German flagship lender.

The bank expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges. ($1 = 0.8909 euros)