Deutsche Bank CEO John Cryan says a planned capital raise will restore confidence in the loss-plagued German lender. The analyst David Hendler at Viola Risk Advisors isn’t convinced.

Deutsche Bank AG Chief Executive Officer John Cryan needs to convince investors he’s finally on the right track after tearing up his own turnaround plan just 17 months into the revamp. Reaction so far to his about-face — which includes an $8.5 billion rights offering, selling part of the asset-management business and reintegrating the consumer-banking unit — has been mixed.

Deutsche Bank AG Chief Executive Officer John Cryan tore up his own turnaround plan in an admission that the 17-month-old effort flopped. Germany’s largest bank late Sunday approved measures — most crucially, plans to raise about $8.5 billion in a share sale — that effectively restart what has already been the most turbulent transformation in its recent history.

Deutsche Bank stock fell sharply in Frankfurt Monday after Europe’s biggest bank confirmed it will raise around $8.5 billion in capital and sell parts of its asset management business. Deutsche Bank AG stock fell sharply in Frankfurt Monday after Europe’s biggest bank confirmed it will raise around a 8 billion in capital from shareholders and plan the partial sale of its asset management business.

European banking giant Deutsche Bank announced plans to raise at least $8.5 billion in capital and sell off a stake in its asset management business, in a move to help shore up the troubled German firm. Deutsche Bank will issue 687.5 million new shares later this month, the bank said Sunday, in an effort to take advantage of the recent run up in the bank’s stock price.

Deutsche Bank AG Chief Executive Officer John Cryan is reversing course less than two years into his new strategy, announcing an overhaul that includes offering 8 billion euros in stock, selling part of the asset management business and reintegrating Postbank. “It’s a positive step forward that we take the brave step of admitting we were going in the wrong direction,” Cryan said on Sunday.

Deutsche Bank AG will offer 8 billion euros of stock, sell part of its asset management business and named two deputies to Chief Executive Officer John Cryan as Germany’s largest lender seeks to shore up capital after two consecutive years of losses. The bank said it will keep its Postbank consumer division and still aims to reduce total costs to 22 billion euros by 2018, the Frankfurt-based company said in a statement Sunday.

Deutsche Bank said Sunday it will raise 8.5 billion in new capital and plan the partial sale of its asset management business as it attempts to strengthen its balance sheet. Deutsche Bank said Sunday that it will raise a 8.5 billion in new capital and plan the partial sale of its asset management business as it attempts to strengthen its balance sheet following a multi-billion settlement with U.S. legal authorities.

Deutsche Bank AG said it’s making plans for a possible 8 billion-euro capital raise and several other potential strategic measures, including an initial public offering of a minority stake in its asset management unit.

London Stock Exchange Group Plc said its $13 billion tie-up with Deutsche Boerse AG is unlikely to proceed after a new regulatory hurdle signaled a potential end to the companies’ efforts to create a champion European exchange. European Union officials had requested that LSE divest MTS, an electronic trading platform for European government bonds.

Deutsche Bank AG bought full-page ads in all major German newspapers over the weekend to apologize for “serious errors” after two years of losses that cost the lender billions of euros. Legal cases that date back many years cost the Frankfurt-based company “reputation and trust” in addition to about 5 billion euros since John Cryan took over as chief executive officer in 2015, the ad said, blaming the “misconduct of a few” employees.

Deutsche Bank will pay $425 million to settle an investigation by a New York state regulator into a $10 billion money laundering scheme. The Department of Financial Services said Monday Deutsche also must hire an independent monitor as part of a consent order for violations of laws involving a “mirror trading” scheme.

According to Deutsche Bank AG Chief International Economist Torsten Slok, at least one important barometer shows the election of Donald Trump pushed the odds of a recession back an additional five months, to more than two years from now. Interest rates should continue to climb while expansion continues-though once things cool off, that’s when the market would expect the Fed to start loosening policy again.

Deutsche Bank AG will tell senior employees as soon as this week that they probably won’t get a bonus for 2016 because of the lender’s performance last year, according to a person familiar with the decision. The decision to withhold bonuses for management board members and most top bankers across the firm was taken at the end of last year and isn’t directly related to the cost of settling legal disputes, said the person, who asked not to be identified discussing internal matters.

A former Deutsche Bank AG foreign-exchange trader faces a possible prison sentence after a Singapore court convicted him of defrauding the company by making false trades. Toh Hway Khuan, 51, pleaded guilty on Wednesday to 13 charges relating to using the bank’s account to get preferential rates on the dollar in November 2009.

Deutsche Bank AG may withhold bonuses from as many as 90 percent of its bankers and traders, the New York Post reported, citing unidentified people briefed on internal talks. Only the top 10 percent are expected to receive a bonus for 2016, and those payments may be spread out over the next five years, the newspaper said.

The founder of a London-based investment fund that focused on what it called “constructive activism” has joined SoftBank Group Corp. to help manage its new $100 billion technology vehicle. Knight Assets & Co.

Deutsche Bank AG’s global head of anti-financial crime and group money-laundering reporting officer, Peter Hazlewood, will step down only six months after assuming the post, a person familiar with the matter said. Hazlewood will probably stay with Deutsche Bank in a different role, said the person, who asked not to be identified because the information isn’t public.

Anshu Jain, the former Deutsche Bank AG co-chief executive officer, is joining Cantor Fitzgerald LP as president, restarting his career at a much smaller firm after leaving Germany’s largest bank amid mounting legal and regulatory problems. Jain, 53, will help the closely held company expand in areas including fixed-income and equities trading as well as prime brokerage, Cantor Chairman and CEO Howard W. Lutnick said Monday in a phone interview.

Deutsche Bank AG, UniCredit SpA and eight other European Union banks would fall short of the European Central Bank’s capital demands on Banca Monte dei Paschi di Siena SpA based on stress-test results, highlighting potential objections to the plan. The ECB told Monte Paschi it needed enough capital to push its common equity Tier 1 ratio to 8 percent of risk-weighted assets in the adverse scenario of the stress test, the Bank of Italy said in a statement late on Dec. 29. That’s well above the legal minimum of 4.5 percent.