Deutsche Bank to raise capital, change structure

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FRANKFURT Deutsche Bank (DBKGn. DE) is planning to raise capital, list its asset management unit and realign its divisions as it seeks to reinvent itself after spending about two years dealing with past misdeeds and massive losses. Germany's flagship lender plans an 8 billion euro ($8.50 billion) rights issue, due to be launched on March 20, it said on Sunday, as it seeks to repair its balance sheet in the wake of a 15 billion euro legal bill incurred since 2012. Additionally, Deutsche is planning an initial public offering of a minority stake in its asset management business, which includes its mainstay DWS retail asset management brand and which analysts have touted to be worth 8 billion euros.

Its cash cow securities trading activities as well as its corporate finance business will be reunited under one roof.