FRANKFURT, Germany (AP) — Deutsche Bank made 120 million euros ($146 million) in the first quarter as exchange rates and lower revenues at its investment banking business weighed on earnings, the company said Thursday. The bank, which replaced CEO John Cryan earlier this month and is struggling to profit after three straight full-year losses, said it would cut the number of top managers and take steps to refocus its investment banking operation on its European base and on areas where it has consistent profits. The first-quarter result compared with profit of 575 million euros in the same quarter a year ago but was an improvement from a 2.4 billion loss in the last quarter of 2017, when the company had a large one-time loss related to tax changes in the U.S. Revenues fell 5 percent to 6.98 billion euros ($8.5 million).Read more on NewsOK.com