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New executive committee to oversee Deutsche's domestic retail business

Deutsche Bank AG formed a new executive committee to help steer its domestic retail business under the Deutsche Bank and Deutsche Postbank AG brands, Reuters reported, citing an announcement made by the bank's head of retail division, Manfred Knof.

The move is part of Deutsche's sweeping restructuring efforts to focus on its core businesses, according to the report.

The new committee will coordinate with the lender's other divisions, Knof said in a note sent to employees that was seen by Reuters.