JPMorgan, Goldman Sachs Lead Retreat From Russia Deutsche Bank AG reversed course and is now joining Wall Street banks Goldman Sachs Group Inc. and JPMorgan Chase & Co. in pulling back from business in Russia following the country’s invasion of Ukraine. “Like some international peers and in line with our legal and regulatory obligations, we are in the process of winding down our remaining business in Russia while we help our non-Russian multinational clients in reducing their operations,” the Frankfurt-based bank said in a statement Friday, adding that it has already “substantially reduced” its exposure to the country since 2014. “There won’t be any new business in Russia.” Christian Sewing The statement from Deutsche Bank marks a swift change for Chief Executive Officer Christian Sewing, who said a day ago that the German lender wouldn’t pull out of Russia. “We are often asked why we are not withdrawing completely […]