Deutsche Urged To 'Reinvent' Itself

Breuer told shareholders at the bank's annual meeting that 'Deutsche Bank has to reinvent itself if it wants to survive.'

The bank's high cost base and low returns from retail banking and asset management are seen by analysts as weighing down the bank's shares. New chairman and chief executive Josef Ackermann is known to want to double the bank's share price as soon as possible.

Breuer worked for Deutsche for 35 years.