Partial ECM exit to leave Deutsche Bank focused on Europe

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Partial ECM exit to leave Deutsche Bank focused on EuropeLONDON/HONG KONG (Reuters) - Deutsche Bank is focusing its equity capital markets (ECM) business such as initial public offerings (IPOs) on Germany and Europe, scaling back in the United States and retreating from most of Asia, banking sources said. Germany's largest lender said on July 7 it would retain a 'focused' ECM franchise as well as U.S. and European equity research teams as part of a 7.4 billion euro ($8.3 billion) shake-up which all but ends its ambitions on Wall Street.

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