Deutsche Bank sells bad securities to Goldman Sachs amid overhaul

Pedro Gonçalves
clock • 1 min read

Deutsche Bank has offloaded $50bn in unwanted assets as part of CEO Christian Sewing's ongoing effort to restructure the struggling German lender, Reuters reports.  Chief executive Christian Sewing in July announced plans to shed about €282bn in non-core assets in a move that would shrink its balance sheet by a fifth.  To conduct the transaction, Deutsche is using a capital release unit — a bad bank — to unwind $195bn in leverage exposure to poor-performing securities. The firm aims to reduce leverage exposure by almost 50% by the end of this year. This marks the second instance in...

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