 "Deutsche Bank")
Deutsche Bank AG fixed-income head Ram Nayak assured staff they will keep their jobs at his business even as the lender cuts 18,000 positions in a sweeping overhaul, according to people familiar with the matter.
The bank’s move to “resize” debt trading operations won’t lead to dismissals, Nayak told colleagues on a conference call on Monday, the people said, asking not to be identified as the matter isn’t public. A day earlier, Deutsche Bank had announced plans to exit equity sales and trading as part of a far-reaching overhaul.
Fixed income has been a traditional strength of Deutsche Bank’s investment banking activities.
