Deutsche Bank AG, continental Europe’s biggest bank, is asking investors to replace three non- bankers supervising its executives with finance and legal experts after litigation-related costs eroded profit last year.
UBS AG, Deutsche Bank AG and Lloyds Banking Group Plc posted profit that topped analysts’ estimates in a sign Europe’s largest lenders are rebounding from the financial crisis after years of job cuts, loan losses and capital raising.
Lloyds Banking Group Plc, Britain’s biggest mortgage lender, may signal the end of an era of surging loan impairments and provisions for improperly sold insurance when it reports first-quarter earnings this week.
Barclays Plc is reaping the benefit of ex-Chief Executive Officer Robert Diamond’s decision to buy Lehman Brothers Holdings Inc.’s North American unit, as the division helped to push equities revenue up 19 percent.
Deutsche Bank AG’s announcement yesterday that earnings will suffer this quarter added to a cacophony of negative news over the past two weeks that’s increasing pressure on the company’s new leadership.