Deutsche Bank to cut 75 global markets jobs in London, New York
[LONDON] Deutsche Bank is to cut around 75 jobs within its global markets division in London and New York, according to one person with knowledge of the information.
The cuts will fall predominantly within the bank's fixed income and currencies sales and trading business, the source said. Staff are being notified today, the source said.
"We are restructuring our FIC business to make it more suited to future market demand," a spokesperson for Deutsche said in a statement.
The latest round of cuts come after a series of previous restructuring programmes at the German bank over the last few years. The latest cuts affect less than 2 per cent of the sales and trading workforce.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
US seeks 36 months’ jail for Binance founder Zhao
Keppel’s Q1 revenue down 6.3% to S$1.5 billion; net profit up with exclusion of legacy O&M assets
JPMorgan talking with investors about two synthetic risk transfers
HSBC says growing Chinese wealth fuels client investments in US
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
UBS flags 'serious' concern about new Swiss capital requirements