A protester stands in front of Deutsche Bank’s headquarters in Frankfurt.
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Europe's biggest investment banks are telling investors that it will take years for their overhauls to bear fruit.Deutsche Bank shares posted the biggest loss since August Thursday, slumping 6.9 percent to 25.59 euros in Frankfurt.Cryan plans to eliminate Deutsche Bank's dividend for this year and next to conserve capital.Cryan told investors that the company will have to spend as much as 3.5 billion euros on severance and restructuring charges to save about 3.8 billion euros of gross costs by 2018 . His plan to cut assets at the investment bank, Deutsche Bank's largest unit, will cut revenue by about 1.1 billion euros through 2018 .Deutsche Bank, Credit Suisse, Barclays and UBS Group AG accounted for 29 percent of fees last year, down from 35 percent in 2011, according to data compiled by Bloomberg. Five U.S. banks, including JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley, made up the remainder.Hirt said the Deutsche Bank investors he represents at Hermes are willing to give Cryan time to execute.
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