Investors skeptical on Deutsche Bank plans; shares off sharply

• "The first plan didn’t turn out how you had hoped," says an analyst. “The management team is pretty much unchanged. Why should we believe this team will deliver this time around when it didn’t first time around?” Dropped today is the bank's hope for 12% ROE in 2016. Now, 10% is the goal in the medium term (it was 3.9% in Q1).
• Co-CEO Anshu Jain, speaking on a conference call, naturally disagrees with the assessment, tough notably missing from today's plan were details of how it will get to cost savings of €3.5B. “How are you going to make sure that these targets that you set today will actually be achieved," asks another analyst. "Five years is a long time to achieve those.”
• Source: Bloomberg
• DB is down 4.1% in premarket action.
• Previously: Deutsche Bank announces strategic overhaul (April 27)