Deutsche Bank is about to undergo its biggest restructuring ever. Here's what we know about what's going on at the German bank.

Christian SewingDeutsche Bank CEO Christian SewingReuters/Kai Pfaffenbach

  • Deutsche Bank CEO Christian Sewing is expected to announce a sweeping overhaul of Germany's biggest bank after a supervisory board meeting on Sunday.
  • The restructuring will reportedly focus on its US business and could include the cutting of 15,000 to 20,000 jobs.
  • We've outlined what we know about what's going on at Deutsche Bank below.
  • Watch Deutsche Bank trade live.

Deutsche Bank CEO Christian Sewing is expected to announce a sweeping overhaul of Germany's biggest bank after a supervisory board meeting on Sunday. The restructuring will reportedly focus on its US business and could include the cutting of 15,000 to 20,000 jobs, or one in six of all full-time employees.

Here's what we know about Deutsche Bank's restructuring:

  • Sewing's restructuring plan is expected to be the largest in the bank's history.
  • It will reportedly focus on deep cuts to its US operations, which employ more than 9,000 people.
  • The job losses are likely to be concentrated in the equities and derivatives trading units.
  • US boss Tom Patrick and other senior executives could leave the bank.
  • The overhaul could cost the bank as much as 5 billion euros in severance pay and other expenses.
  • Garth Ritchie, head of Deutsche Bank's investment banking unit, has agreed to step down.
  • Deutsche Bank could create a separate "corporate bank" that would bring together units such as its transaction bank, which provides everyday financial services such as international payments to companies.
  • It may also create a "bad bank" to hold billions' worth of non-core assets such as long-dated derivatives.
Here's why the restructuring is happening:

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