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This article is about Deutsche Bank AG which six months ago tried to sell its retail business to concentrate on corporate and investment banking is working on a plan to turn its retail unit into a pan-European outlet for stocks mutual funds and other investment products Top executives of Deutsche Bank the worlds largest bank by assets were to present their latest ideas to their supervisory board on 231000 The board the equivalent of a board of directors at US companies earlier this year said it wanted to weigh the management proposals before big steps were taken The new thinking is driven by the banks powerful investment-banking division known as Global Corporates Institutions or GCI which sees the retail network as a distribution channel to the growing class of affluent Europeans who are switching their savings into stocks and investment funds The supervisory board had earlier told Mr Breuer to rethink his previous plan to sell a majority stake in Deutsche Bank 24 The banks top investment bankers now support retaining the retail business and hope to focus its efforts on selling investment products rather than traditional banking services Deutsche Banks asset-management division led by former investment banker Michael Philipp is also pushing the retail revamping to boost the sales of fund-management unit DWS Europes biggest mutual-fund company Plans for improved distribution arent confined to Deutsche Bank 24 The groups private-banking unit which serves high net-worth clients is also due for aggressive expansion as a European sales channel for the GCI and asset-management units In the US too Deutsche Bank hopes to win retail customers a strategy that it furthered by making a bid for National Discount Brokers Group Inc earlier this month The supervisory board while welcoming the plan to keep the retail bank may resist too strong a shift away from basic retail banking said people familiar with the boards thinking The outcome of meeting may be an
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