Deutsche Bank to cut more than 7,000 equities sales, trading jobs

Deutsche Bank is slashing more than 7,000 jobs to cut costs and restore profitability, while keeping its international reach as its new CEO seeks to reassure investors and clients.
 

Germany’s biggest bank said global headcount would fall to well below 90,000 from 97,000, with a 25 per cent cut in equities sales and trading jobs, which are mainly in New York and London and where it has been losing ground to US rivals.
 

Deutsche Bank to cut more than 7,000 equities sales, trading jobs .  Christian Sewing, who became CEO in a management reshuffle last month, said the bank was committed to its international presence, fleshing out his plan to scale back its global investment bank and refocus on Europe and its home market after three consecutive years of losses.

HSBC looks to hire from Deutsche Bank, Citi in Asia 

HSBC Holdings Plc is continuing a hiring spree for its equities business in the Asia-Pacific region, recruiting executives from firms including Deutsche Bank AG and Citigroup Inc, according to sources. HSBC has hired Deutsche Bank’s Isabella Kwok as a managing director for Asian equity sales with a China focus, the sources said. Others joining the bank in Hong Kong include Edman Wong from Citigroup and CLSA Ltd’s Vivek Gandhi, who will be based in Singapore.