Jobs Hit at Deutsche
Facing increased pressure to restore profits in its investment banking unit Deutsche Bank has started culling jobs.
In an attempt to stem the prolonged fall in its securities business Germany's largest lender is cutting as many as 500 investment bankers across its global business according to a «Bloomberg» report.
Despite a pledge last year by chief executive John Cryan not to pay bonuses compensation and benefits at the bank increased 8 percent to $4.26 billion, while Deutsche reported that revenues in its investment bank had sunk by 15 percent to $14.23 billion last year.
In Asia Deutsche, via its wealth management business, has been adding headcount in both Singapore and Hong Kong as it pushes for a greater share of the growing regional wealth.
