The company's strategy is reminiscent of former Citigroup ( C) CEO Vikram Pandit's "good bank/bad bank" strategy of placing noncore assets within the City Holdings subsidiary, and selling assets from there or allowing them to run off. This strategy was accelerated last week along with other major initiatives to cut expenses, by new Citigroup CEO Michael Corbat. Deutsche Bank said that "assets identified for the NCOU segment (as per 30 September 2012) totaled EUR 122 billion, with a pro-forma Basel 3 risk-weighted asset (RWA) equivalent of EUR 125 billion." The company also provided some negative guidance for its fourth-quarter results, saying that "the fourth quarter 2012 so far was characterized by a continued difficult macroeconomic environment with low volatility and by the usual seasonal slowdown. Despite this environment, we have achieved solid operational results in October and November across all our core businesses." Deutsche Bank said that the fourth-quarter results would include "a number of specific items" that would have "a significant impact on the Bank's earnings." Deutsche Bank's shares have now returned 18% year-to-date, following a 26% decline during 2011. The shares trade for seven times the consensus 2013 EPS estimate of $6.46, among analysts polled by Thomson Reuters. Interested in more on Deutsche Bank? See TheStreet Ratings' report card for this stock.