LONDON/FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) is considering scaling back its Italian retail operations by selling branches and cutting jobs as its new chief executive overhauls the company to keep pace with rivals, according to five sources familiar with the matter. CEO John Cryan is under pressure to reform Germany’s flagship bank to reduce costs and boost profitability, after costly litigation from a series of scandals and the fallout from the Asian market rout pushed its valuation well below competitors such as Credit Suisse (CSGN.VX) and UBS (UBSG.VX).