Deutsche Bank may save €500m

Deutsche Bank AG, Europe’s third-biggest bank, may save at least €500 million from a revamp of its investment banking and asset management units, Merrill Lynch & Co and JP Morgan Chase & Co analysts said.

Deutsche Bank could save at least €325m cutting costs at its securities division and €175m in asset management, Merrill Lynch analyst Stuart Graham said in a note to clients. The bank could trim costs by eliminating 1,900 mostly back-office jobs in the securities unit, JPMorgan analysts including Kian Abouhossein said in a note to investors.