The German lender said it was targeting savings of 3.5 billion euros ($3.8 billion) annually, but that this would cost a one-off 3.7 billion euros to achieve.
Deutsche Bank shares slipped 4.9 percent in the morning session on Monday and Jain told CNBC that the stock movements weren't the reaction the bank was looking for.
"We're not going to judge our strategy based on a one-day reaction," he added.
He also explained that further legal costs "clearly" remained a risk but said that the long term cultural change program that he has introduced would reduce the possibility of similar charges in the longer term.
In the much-anticipated statement, the bank outlined plans to deleverage its corporate banking and securities division, cutting 200 billion euros in investment banking assets.
Jürgen Fitschen and Anshu Jain, the bank's co-chief executive officers, said the lender needed to "avoid trying to be all things to all people" in a statement.
"Our strategy review process was thorough and rigorous. We consulted key stakeholders and carefully evaluated different models. As a result of our strategy review, we are convinced that pursuing a focused client-centric business model is the right choice for us. This business model, which is unique to Deutsche Bank, will get us closer to our roots," they added.
Deutsche Bank said it would close 200 branches across its network by 2017, and planned to reduce the number of countries it operated in by 10-15 percent.