Deutsche Bank AG employees learned what bonuses they would receive on Wednesday, with many facing deep cuts and some bankers in New York and London receiving zero payouts, people with knowledge of the decisions said.

Banks sold $1.2 billion of loans for the buyout of ConvergeOne without suffering losses on the transaction after they were stuck with the debt for longer than expected, according to a person with knowledge of the matter.

A merger of Deutsche Bank AG and Commerzbank AG is shaping up as the most likely endgame as Germany’s largest listed lenders are running out of time to show they can grow as standalone companies.

The top executives of Deutsche Bank AG and Commerzbank AG have resumed discussions on a possible merger of the two lenders, the German magazine Focus reported, citing unidentified people familiar with the matter.

Mitsubishi UFJ Financial Group Inc. has been on an expansion kick in the debt market. But its first attempt as a sole underwriter on a dollar high-yield bond sale didn’t go so well.

Deutsche Bank AG’s new head of EMEA wealth management, Claudio De Sanctis, is shaking up his team of private bankers to turn around a business that’s losing assets.