Deutsche Bank Plans To Lay Off 1,000 Investment Bankers

by Wall Street Job Report on July 19, 2012

Deutsche Bank (DBKGn.DE) aims to cut almost a tenth of its investment banking staff, the latest lender to respond to a slowdown in financial market activity as the euro zone crisis saps client confidence, sources familiar with the plans said.

The cull of around 1,000 jobs is an about-turn for Germany’s flagship lender which in April said it saw no need for layoffs at its investment bank, one of the main profit drivers for the whole company.

A slowdown in stocks and bonds trading and fewer company takeovers in the three months to June has forced global investment banks including Credit Suisse (CSGN.VX), Goldman Sachs (GS.N) and UBS (UBSN.VX) to slash staff.

Read the full story at Reuters.

Want a daily digest of articles like this one, plus the latest Wall Street jobs at top-tier organizations? Join 25,000 other Wall Street professionals and subscribe to our free afternoon newsletter. You may also be interested in our Wall Street Job Board, offering hundreds of new jobs at world-class financial institutions. Where do you find news, style, and career all in one place? The Executive Gateway, our new lifestyle magazine.

Be Sociable, Share!

Leave your comment

Required.

Required. Not published.

If you have one.



Web Design by Dashing Web Design