Deutsche Bank to split investment unit in two

Frankfurt

DEUTSCHE Bank said on Sunday that it would split its investment bank in two and overhaul its top management as the lender, Germany's largest, tried to overcome legal problems and address criticism that it was inefficient.

As part of the reorganisation, which was approved by the bank's supervisory board at a meeting on Sunday, several top executives will leave, including two who were criticised for their handling of accusations that Deutsche Bank colluded with other banks to rig benchmark interest rates.