The bank also intends to divest €4bn worth of assets including Postbank and other consumer finance portfolio measures in Europe over the next two years.
Deutsche will completely close onshore operations in Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta, and New Zealand.
In addition to shifting trading activities in Brazil to global and regional hubs, the bank will further centralize booking locations in global and regional hubs as part of the new global markets and corporate & investment banking (CIB) structure.
Deutsche Bank co-CEO John Cryan said: "We have four strategic goals. First, to become simpler and more efficient by focusing on the markets, products, and clients where we are positioned to succeed, leading to greater client satisfaction and lower costs. Second, to become less risky by modernising our outdated and fragmented technology and withdrawing from higher-risk relationships and locations.
"Third, to become better capitalized, so that we are no longer playing catch-up with regulation and market expectations. Finally, to run Deutsche Bank with greater discipline and purpose based on delegation of responsibility, personal accountability, and a reward system which is aligned to good performance and conduct."
The bank will also reduce its clients by half in global markets and CIB including higher operating risk countries.
It also plans to update its IT architecture by reducing operating systems and replacing its end-of-life hardware and software applications.
Deutsche Bank posted €7.6bn in profit and revenue during the third quarter 2015.
Image: Deutsche Bank headquarter in Frankfurt am Main, Germany. Photo: courtesy of Raimond Spekking / Wikimedia Commons.
