'Deutsche Bankhas and will weather the stormbetterthanmost, butatthis stage in my life the privatemodelisabetteropportunity for success, ' Mr. Zekosaid.
"This won't help the many who already took their 2010 RMDs, " says Blanche Lark Christerson, a managing director at DeutscheBankPrivate Wealth Management.
The rest are to be bundled into the bank's private-client and asset-management division, which houses DeutscheBank 24, the retail-banking arm (which already serves some small firms in any case), private banking (for richer customers) and Deutsche's online broker, called maxblue.
The latest comes from DeutscheBank CEO Josef Ackermann who told Bloomberg that private entities like hedge funds pose a systemic risk to the economy if lax oversight persists.