June 4, 2018 / 3:21 PM / 17 days ago

Deutsche Bank scales back in South Africa in turnaround plan

JOHANNESBURG, June 4 (Reuters) - Deutsche Bank will shut down its South African corporate broking, advisory and sponsor-services, it said on Monday, as part of its plan to return to profitability under new Chief Executive Christian Sewing.

"There will be an orderly wind-up of the Advisory, Corporate Broking and Sponsor Services businesses over a period of up to six months," spokesman Stuart Haslam said in a statement. (Reporting by Tiisetso Motsoeneng Editing by James Macharia)

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