FT.com / Companies / Banks – D Bank job cuts focus on New York and London


Deutsche Bank is to shed 900 jobs as it responds to the financial crisis by reshaping its investment banking operations.

The cuts are the deepest instituted by Germany’s largest bank in response to the steep downturn in banking and will be felt around the world, although they will fall mainly in New York and London, the largest centres of its global markets business.

EDITOR’S CHOICE

Lex: Deutsche Bank – Oct-30

Accounting changes aid Deutsche Bank profits – Oct-30

Rivals face hurdles in copying Deutsche move – Oct-30

Deutsche Bank may yet need fresh capital – Oct-28

Deutsche Bank managers waive bonuses – Oct-17

Deutsche Post insists Postbank sale is on – Oct-16

The move means a reduction of about 12 per cent in Deutsche’s 7,000-strong global markets team, led from London by Anshu Jain.

Deutsche is reducing its exposure to several business lines including its trading of “exotic” (and now highly unpopular) structured products such as collateralised debt obligations. Such instruments have been at the heart of some of the criticism of the “originate and distribute” models used by global banks.

via FT.com / Companies / Banks – D Bank job cuts focus on New York and London

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 20, 2008, in Bank Stocks, Financial Markets, Global, Meltdown and tagged , , , , . Bookmark the permalink. Leave a comment.

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