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Deutsche Bank's Equities Chief Reportedly Plans To Leave

Deutsche Bank AG's (DB) global head of equities Peter Selman is expected to step down from his role as the company plans to downsize its investment bank, according to reports citing people familiar matter.

The reports said that Peter Selman plans to leave after the company's executives discussed a possible role for him in a planned noncore unit, also known as a bad bank.

The Chief Executive Officer Christian Sewing is finalizing a new turnaround plan that's zeroing in on reductions in equities trading and even potential closures to parts of the unit, the report said.

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