Bloomberg Barely two weeks into the job, Deutsche Bank AG’s Chief Executive Officer Christian Sewing is considering a retreat that could mark the end of the bank’s two-decade quest to compete with Wall Street. Sewing is weighing extensive cuts to the lender’s cash equities business in the US and may announce details as part of a wider restructuring of its …

Bloomberg The European Union spurned UK calls for a legislative fix to the threat posed by Brexit to trillions of dollars of financial contracts, telling banks and insurers to solve the problem themselves. Valdis Dombrovskis, the EU’s financial-services policy chief, said the private sector must take the lead in ensuring that existing contracts can continue and not be disrupted when …

Bloomberg UBS Group AG’s freshly-combined wealth management unit didn’t get off to the best start. The business, which accounts for about half UBS’s pre-tax profits, posted first-quarter earnings that missed analyst estimates. That disappointment and lower-than-expected asset management results eclipsed a star performance at the investment bank, sending the shares down the most in three months. Chief Executive Officer Sergio …