 "Deutsche Bank to cut more than 7,000 equities sales, trading jobs")
Deutsche Bank is slashing more than 7,000 jobs to cut costs and restore profitability, while keeping its international reach as its new CEO seeks to reassure investors and clients.
Germany’s biggest bank said global headcount would fall to well below 90,000 from 97,000, with a 25 per cent cut in equities sales and trading jobs, which are mainly in New York and London and where it has been losing ground to US rivals.
Deutsche Bank to cut more than 7,000 equities sales, trading jobs . Christian Sewing, who became CEO in a management reshuffle last month, said the bank was committed to its international presence, fleshing out his plan to scale back its global investment bank and refocus on Europe and its home market after three consecutive years of losses.
HSBC looks to hire from Deutsche Bank, Citi in Asia
HSBC Holdings Plc is continuing a hiring spree for its equities business in the Asia-Pacific region, recruiting executives from firms including Deutsche Bank AG and Citigroup Inc, according to sources. HSBC has hired Deutsche Bank’s Isabella Kwok as a managing director for Asian equity sales with a China focus, the sources said. Others joining the bank in Hong Kong include Edman Wong from Citigroup and CLSA Ltd’s Vivek Gandhi, who will be based in Singapore.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%