As Deutsche commences equities cuts, fixed income reshuffle in the cards

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As Deutsche commences equities cuts, fixed income reshuffle in the cards

Jennifer Kang
July 08, 2019 08:30 PM
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24 May 2018, Germany, Frankfurt: Chairman of the Deutsche Bank, Christian Sewing, standing in front of the bank's logo before the start of the general meeting in the Frankfurt festival hall. The bank is planning the reduction of thousands of positions. The present number of more than 97,000 will be dropped to under 90,000. The insitute announced the news shortly before the start of the general meeting on Thursday. Photo: Arne Dedert/dpa | Arne Dedert/DPA/PA Images

Layoffs began at Deutsche Bank in New York on Monday morning, following the German bank's announcement that it will exit the equities business and rejig fixed income operations globally, including in securitization.

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