Wary investors steer clear of European banks being restructured

London

ACROSS European banks, new chief executive officers have rolled out overhauls, pledging to fire thousands, exit businesses and cut assets to boost profit. For now, investors aren't convinced the plans will pay off soon.

Shares of Deutsche Bank AG, Credit Suisse Group AG and Standard Chartered Plc have dropped more than most peers since the CEOs unveiled their restructuring plans over recent months. Their complex reorganisations are largely trying to make the best of banks' relative strengths, while working around models that are proving to be broken. At the same time, ever stricter capital rules, cooling emerging markets and record-low interest rates may complicate efforts.