Commerzbank is shuttering its equities sales, trading and research business as part of a radical overhaul at the German lender that will see around 10,000 jobs lost over the next three years.

It is the latest investment bank to call time on its stock trading unit, a low margin business that has increasingly favoured larger players in recent years. Commerzbank will close its equities trading, sales and research function, its chief executive Manfred Knof told journalists during a call accompanying its fourth-quarter results.