Deutsche Bank is a German universal bank which operates in 72 countries with more than 100,000 employees. It is one of the largest financial institutions in the world. The group provides private and corporate banking products and services, including investments and asset management, through three group divisions: corporate and investment bank group; private clients and asset management; and corporate investments. In October 2015, Deutsche Bank AG announced it would pull out of Argentina, Chile, Mexico, Peru and Uruguay because of a large workforce reduction. In Latin America, the lender is present only in Brazil.