Deutsche Bank to Offer $8.5 Billion of Stock, Names Deputy CEOs

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.