well done for the research- yes it doesn't make sense but is it just a case of DB tidying up still? the passage below is only Wiki, but they have been sailing close to the wind for years and close to, or involved in scandals - is this another one? -but did they have equity in GLAF or was it just investors in the funds that got shafted I wonder?
"During the Annual General Meeting in May 2019, CEO Christian Sewing said he was expecting a "deluge of criticism" about the bank's performance and announced that he was ready to make "tough cutbacks"[105] after the failure of merger negotiations with Commerzbank AG and weak profitability. According to The New York Times, "its finances and strategy [are] in disarray and 95 percent of its market value [has been] erased".[106] News headlines in late June 2019 claimed that the bank would cut 20,000 jobs, over 20% of its staff, in a restructuring plan.[107][108] On 8 July 2019, the bank began to cut 18,000 jobs, including entire teams of equity traders in Europe, the US, and Asia. On the previous day, Sewing had laid blame on unnamed predecessors who created a "culture of poor capital allocation" and chasing revenue for the sake of revenue, according to a Financial Times report, and promised that going forward, the bank "will only operate where we are competitive".[109][110]In January 2020, Deutsche Bank had decided to cut the bonus pool at its investment branch by 30% following restructuring efforts.[111]In February 2021, it was reported that Deutsche Bank made a profit of €113 million ($135.6 million) for 2020, the first annual net profit it had posted since 2014.[112][113]In March 2021, Deutsche Bank sold about $4 billion of holdings seized in the implosion of Archegos Capital Management in a private deal.[114] The move helped Deutsche Bank emerge unscathed after Archegos defaulted on margin loans used to build up highly leveraged bets on stocks.[114]"
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well done for the research- yes it doesn't make sense but is it...
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