Deutsche Bank's DWS
The abolition of positions like managing directors and vice presidents "will build a collaborative work environment with flat hierarchies based on functional roles, skills and capabilities as well as a clear performance culture", said the memo, seen by Reuters.
As a result, there will be no corporate title promotions in 2019, the memo said. DWS will still have a chief executive and chief financial officer.
A spokesman confirmed the authenticity of the memo.