Deutsche cuts

Deutsche Bank cuts 40 equities bankers in Asia

Deutsche's cuts are part of a street-wide reduction in equities team staffing in Asia, which is a reflection of how the capital markets have slowed.

Deutsche Bank cut approximately 40 bankers in its equities division in Asia yesterday, which is about 9% of its equities staff, according to sources. This was part of Deutsche’s plan to reduce 1,900 people from its global staff, which it announced on July 31.

“This says a lot more about the industry than a specific bank,” said a source, who pointed out that rival banks are all facing the same problem. The capital markets have slowed and something has to give so while cuts have been across the board, they’re most notable in equity capital markets and equity trading.

Consider that global $1 billion-plus initial...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222