Deutsche Bank (DB) Stock Tumbles as Currency Trading Chief Departs

Deutsche Bank (DB) stock is trading lower this morning as its head of foreign exchange and emerging market debt trading leaves the company.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Deutsche Bank (DB) - Get Report are falling 6.16% to $12.57 in Wednesday morning trading as Ahmet Arinc, who oversaw currencies trading and emerging-markets debt trading, will leave the company, the Wall Street Journal reports.

Arinc has been on leave for several months and will not be returning to the German lender.

David Wayne and Sean Bates will continue as head of currency trading and head of emerging market debt trading, respectively, and will report to Ram Nayak, the London-based head of debt trading, Bloomberg adds.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Deutsche Bank's weaknesses include its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: DB

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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