Deutsche Bank mulling cutback in US operations: reports

Zurich

DEUTSCHE Bank AG, Germany's biggest bank, is considering options such as scaling back US operations as part of a wider overhaul to lower costs, according to several media reports.

A US pullback was already discussed by the supervisory board and would be more likely than a sale of the asset management business, Sueddeutsche Zeitung reported, citing an undisclosed person familiar with the matter.

No decision has been taken, according to the German newspaper.

Deutsche Bank doesn't plan a full US retreat, according to Reuters. Renee Calabro, a spokeswoman for Deutsche Ba…