Excluding these charges, Deutsche Bank expects to report second quarter 2019 income before income taxes of approximately Euro 400 million and net profit of Euro 120 million. His plan was approved by the board at a meeting Sunday.
This year, the bank also came under scrutiny over a New York Times article claiming that Deutsche's top executives ignored warnings on suspicious financial operations by US President Donald Trump and his son-in-law, Jared Kushner, and refused to file reports to federal financial crimes watchdog.
About 74 billion euros of risk-weighted assets will become part of a new non-core unit and the lender's capital buffer will be reduced as part of the plan.
Chief Executive Officer Christian Sewing, who now aims to focus on the bank's more stable revenue streams, said it was the most fundamental transformation of the bank in decades.
Some employees at the bank's offices in Hong Kong have already started packing their belongings, the person said.
Deutsche also said it expects to report a net loss of 2.9 billion euros ($3.25 billion) in the second quarter of 2019.
The reorganisation of the enterprise follows the failure of merger talks with rival Commerzbank in April. The departure of investment bank head Garth Ritchie was announced on Friday.More news: If England reach final
More news: Iran threatens to retaliate after British forces seized oil tanker
More news: Uh Oh, Guess Who Had the Betsy Ross Flag at His Inauguration
"We are creating a bank that will be more profitable, leaner, more innovative and more resilient", he wrote to staff.
In one of the biggest banking overhauls since the financial crisis, the job cuts will take Deutsche's workforce to 74,000.
The Frankfurt-based bank gave no details in its Sunday announcement of the potential impact on jobs.
CEO Christian Sewing took over previous year and promised faster restructuring after predecessor John Cryan was perceived to have moved too slowly. The equities business is focused largely in NY and London.
As one Barclays insider suggested the BBC: "Deutsche is where Barclays used to be 5 to 10 years in the past".
Founded in 1870, Deutsche has always been a major source of finance and advice for German companies seeking to expand overseas or raise money through the bond or equity markets, a role which had the tacit backing of successive governments in Berlin.
The investment bank generates about half of Deutsche's revenue but is also a volatile business.
In the restructuring, Sewing let go two other members of the management board - head of regulation Sylvie Matherat and head of retail Frank Strauss - and brought in some newcomers.