UPDATE 1-Deutsche to cut investment bank, hive off Postbank in revamp

April 24, 2015 9:25 PM

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* To cut costs, redesign governance model (Recasts with details of announcement, background)

FRANKFURT, April 24 (Reuters) - Deutsche Bank will cut back investment banking, split off its Postbank retail chain and reduce costs, the group said late on Friday, in a restructuring plan designed to restore profitability.

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