💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Deutsche Bank cuts London-based emerging markets M&A team: source

Published 05/25/2018, 09:05 AM
Updated 05/25/2018, 09:10 AM
© Reuters. The headquarters of Germany's Deutsche Bank is photographed early evening in Frankfurt
DBKGn
-

FRANKFURT (Reuters) - Deutsche Bank (DE:DBKGn) is cutting a team of 10 investment bankers in London focused on deals in emerging markets, a person familiar with the matter said on Friday.

The team, led by 18-year Deutsche veteran Philipp von Danwitz, learned of the cuts this week, the person said, who spoke on condition of anonymity.

They worked on mergers and acquisitions in central and eastern Europe, the Middle East, and Africa.

They are just a handful of the 600 bankers let go so far over recent weeks since Christian Sewing took over as the German lender's chief executive officer. He is aiming to reduce global staff by more than 7,000.

A spokesman for Deutsche Bank declined to comment.

Financial News first reported the dismissals.

© Reuters. The headquarters of Germany's Deutsche Bank is photographed early evening in Frankfurt

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.