In recent years, the business has been a source of regulatory and political headaches while losing ground and talent to rivals.
Deutsche Bank now plans to tell hundreds of US equities and rates traders that they will no longer be employed there, people familiar with the matter told Bloomberg. Chief Executive Officer Christian Sewing may present a major restructuring plan as early as this week, slashing as many as 20,000 positions worldwide.
After a slow drip of news and rumoursabout potential job cuts, with limited direct communication from Sewing, a number of US staffers have grown to resent their London and Frankfurt-based counterparts, according to interviews with nearly a dozen current and former employees. Kerrie McHugh, a spokeswoman…
Read the full article at: https://www.afr.com/business/banking-and-finance/investment-banking/at-deutsche-nyc-there-s-empty-seats-blank-screens-20190702-p523a2