The headquarters of Germany's Deutsche Bank are seen in Frankfurt, Germany, January 31, 2017. REUTERS/Kai Pfaffenbach
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Deutsche Bank AG, the German lender losing market share across the world to its biggest rivals, has held on to a key group of clients: junk-bond billionaires.Icahn, 81, chose Deutsche Bank as the sole manager for Federal-Mogul Holdings LLC's sales of 715 million euros of bonds late last month, the data show.The deals for Icahn, who's also serving as an adviser to U.S. President Donald Trump, helped Deutsche Bank leapfrog Goldman Sachs Group Inc. to top the western Europe high-yield league table in the first quarter. Along with raising about 8 billion euros in fresh capital from investors in a sale that wraps up Thursday, Deutsche Bank will also focus more on doing deals for corporate clients instead of hedge funds and asset managers.The lender completed 14 more deals than any other bank in 2016, the data show.Deutsche Bank has enabled much of Hernandez's empire-building.
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