Executives at Deutsche Bank are contemplating dramatic options for the German lender, including selling all or part of a key business, a sign of growing pressure to speed up a flagging overhaul.

This weekend, senior executives are meeting to debate some of these options, according to people familiar with the plans. One has already been floated: a merger with Germany's second-largest bank by market value, Commerzbank, the people said. The two banks in August held preliminary discussions about a tie-up, before concluding last week it wasn't viable.