Deutsche Bank cutting dozens of jobs in fixed-income trading

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

NEW YORK (BLOOMBERG) - Deutsche Bank is cutting dozens of traders and salespeople in its global fixed-income ranks, a unit that was largely spared from the first round of reductions in the firm's overhaul two months ago.. Read more at straitstimes.com.

NEW YORK - Deutsche Bank is cutting dozens of traders and salespeople in its global fixed-income ranks, a unit that was largely spared from the first round of reductions in the firm's overhaul two months ago.

Deutsche Bank is undergoing a restructuring that will involve 18,000 job reductions across all of its businesses as chief executive officer Christian Sewing tries to turn around years of poor profitability. When executives laid out the plan in July, they slashed the equities-trading division but stayed committed to most of the fixed-income unit, under the strategy of focusing on businesses where the bank is a leader.

And despite the credit businesses's pullback in Latin America, the firm plans to maintain some services to provide continuity for clients there.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jho Low convinced Najib’s aides to open bank accounts in S’poreKUALA LUMPUR: 'Boss will take care' - these were the exact words used by fugitive financier Low Taek Jho to convince two aides of then Malaysian Prime Minister Najib Razak to open bank accounts in foreign countries. The accounts with BSI Bank in...
Source: thenewpaper - 🏆 7. / 63 Read more »

Bank of England foresees 'less severe' impact of no-deal BrexitLONDON (AFP) - The Bank of England believes the impact of a no-deal Brexit on the UK economy is 'less severe' than previously thought owing to better preparedness, governor Mark Carney said Wednesday (Sept 4).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Bank of America recognizes pretax impairment charge of US$2.1 billionBank Of America Corp said on Wednesday it recognized a pretax impairment charge of about US$2.1 billion for the quarter ending September 2019 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Dozen Goldman partners could possibly exit by 2019-end: WSJAs many as a dozen partners at Goldman Sachs Group Inc are negotiating an exit from the bank and are likely to leave by the end of 2019, the Wall ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall St. gains on easing trade tensions, strong ADP jobs dataU.S. stock index futures rose on Thursday as the United States and China agreed to hold high-level talks next month, raising hopes of a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

New Singapore govt e-service to help banks combat fraud risks in trade financingA NEW government e-service that will help financial institutions address compliance challenges and better assess fraud risks in trade financing has been added to Singapore's digital national trade platform. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »