Deutsche Bank to cut Middle East staff
- Middle East: Tuesday, September 18 - 2012 at 12:41
Several senior positions in Deutsche Bank's Dubai investment banking business are to be cut, including directors, in order to adapt to a tougher investment banking environment globally, Reuters has reported, citing three banking sources. The German lender last week outlined plans to cut bonuses, axe more jobs and sell assets, and senior executives said expected job cuts would be "over and above" the 1,900 positions already announced. "There are at least seven people confirmed to be leaving front office roles (in Dubai)," said a source familiar with the matter, adding the jobs were mostly in the investment banking business.
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