Deutsche Bank Cutting 250 Jobs

Deutsche Bank is cutting at least 250 investment banking jobs in locations including London and the United States as it seeks to keep a lid on expenses amid a sustained slide in its securities unit, DW reported. Germany’s biggest commercial bank was about to lay off at least 250 employees in its corporate and investment banking division, the news agency Reuters reported Monday. Quoting a person familiar with the matter, Reuters said that the total number of job losses could rise to as many as 500, mainly affecting senior and mid-level investment banking positions. According to Bloomberg News, other people with knowledge of the matter said the bank had trimmed positions in locations including London and the US in the past two weeks. They reportedly included Marc Benton, who oversaw European energy investment banking, and Evans Haji-Touma, who focused on sovereign wealth and public pension funds. The corporate finance unit for Europe, the Middle East and Africa, led by Alasdair Warren, felt some of the cuts, too.