FRANKFURT (Reuters) - Deutsche Bank AG (>> Deutsche Bank AG) will provide details of a new strategy plan to investors in the second quarter of 2015, senior management told bank staff in an internal memo on Monday.

"The management board is working diligently on the next phase of our strategy, and we will update our stakeholders at an investor & media day and global employee town hall in the second quarter," the bank's two chief executives, Anshu Jain and Juergen Fitschen, said in a New Year’s greeting sent to staff and provided by the bank to Reuters.

Deutsche said in December it would review its strategy and profit targets in 2015 and possibly sell its Postbank-branded (>> Deutsche Postbank AG) retail unit, in a major reversal as a planned turnaround in profitability has fallen short of hopes.

Earlier in January, Fitschen said management was convinced the bank's "universal" strategy was the right one but it would change course if tighter regulations made it sensible to do so.

Germany's largest bank currently offers a broad array of financial services worldwide -- everything from retail accounts to merger advice.

Deutsche is holding its ground against U.S. leaders such as JP Morgan (>> JPMorgan Chase & Co.) and Goldman Sachs (>> Goldman Sachs Group Inc) in revenue, but its returns are trailing because it was not as quick to restructure and recapitalise after the financial crisis.

European rivals such as UBS and Barclays (>> Barclays PLC) have lost revenues as they have shrunk their bond trading desks, but their returns are in better shape.

Since unveiling its last strategic plan in mid-2012 shortly after the arrival of Fitschen and Jain, Deutsche has cut its balance sheet by 24 percent and strengthened its core capital to 11.5 percent from 6 percent then, the bank said.

Overhauling the group’s profit targets, unveiled in 2012 and diluted once already in 2014, would represent a major setback for Jain and Fitschen, who have had to contend with heavy costs for fines and settlements over past misconduct by the bank.

Deutsche's return on equity of less than 3 percent in the first nine months of 2014 was well below the 12 percent it aims to reach in 2016 and a far cry from the 20 percent returns enjoyed before the crisis.

(Editing by Kirsti Knolle and Mark Potter)

By Thomas Atkins