When Christian Sewing attended a conference for bond investors at a luxury hotel outside London last week, he invited one of Deutsche Bank's clients to give a presentation to the attendees.

The executive he brought along was not a hedge fund manager or a freewheeling real estate developer, but rather Klaus Rosenfeld, head of Schaeffler Group, one of the world's leading suppliers of ball bearings and car parts.

According to those in the room, the message could not have been clearer: after more than two decades during which the lender tried to become a European rival to Wall Street titans

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