New York Post

Cryan’s Deutsche mistreat

- By KEVIN DUGAN kdugan@nypost.com

John Cryan may be the loneliest man on Wall Street.

The Deutsche Bank chief executive is threatenin­g to anger shareholde­rs by diluting the stock’s value, the latest in a string of tough-love measures that’s seen him sell off businesses, slash thousands of jobs and all but eliminate bonuses for anyone who’s left.

The German bank said it’s looking to raise about $8.5 billion by selling part of its asset management arm in an initial public offering — just months after settling with the Justice Department for more than $7 billion for financial crisisera wrongdoing.

The capital raise could win board ap- proval as soon as this weekend, according to Bloomberg.

“Deutsche Bank confirms that it is conducting preparator­y steps for a potential capital raise of approximat­ely EUR 8 billion and several potential strategic measures,” the bank said in a statement.

The statement came after Bloomberg first reported the bank was trying to raise more than $10 billion.

The decision to go to the stock market to raise money is a controvers­ial one — because it makes existing stakeholde­rs’ shares worth less than they otherwise would have been.

Back in January, Cryan (right) told CNBC that he didn’t want to raise money through a stock offering, and yet he warned investors that the option was still on the table.

“I have been in a CFO role before, so I know never to say ‘never.’ It remains to be seen what those [regulatory] uncertaint­ies hold for us,” he said.

Cryan, who’s been atop the former Wall Street powerhouse since June 2015, has done just about everything so far to avoid going to the stock market to raise money.

Last month, the bank shrank bonuses by as much as 80 percent and top earners got long-term packages that paid off only after six years.

In September, Cryan announced that 10,000 jobs were going to be cut.

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