What it will take to fix Deutsche Bank

Deutsche Bank AG’s trading performance these days may not be dizzying, but you can’t say that about its strategy announcements.

Christian Sewing, who took over as chief executive officer barely two weeks ago, wants to scale back US rates sales and trading, reduce the corporate finance business in the US and Asia, and make cuts to the global equities business. It’s the fourth turnaround plan for Europe’s largest investment bank in the past three years.

Revenue at the Frankfurt-based lender has been declining steadily since it announced its first attempt to shrink the investment bank in April 2015, under then-CEOs Anshu Jain