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Deutsche Bank’s Prized Hedge Fund Unit in Downward Spiral

(Bloomberg)A once-lucrative business within Deutsche Bank AG catering to hedge funds is on its way to becoming yet another casualty of the German lender’s chronic turmoil.The German firm’s revenue from prime services declined for a third straight year in 2018, while rivals Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. all saw jumps, according to people with knowledge of the business.Revenue from the high-stakes business of executing trades and lending securities to hedge funds has dropped by more than a third since 2015.

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