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Deutsche Bank to cut Latin America equities headcount: Bloomberg [April 23, 2014] (Reuters) — Germany's largest lender Deutsche Bank <DBKGn.DE> is trimming its equities team in Latin America and is considering shutting its equities business in Chile, Bloomberg reported on Wednesday citing two people familiar with the matter. |
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The bank is trimming headcount in locations that
serve Latin America such as Sao Paulo and Santiago as well as
New York, Bloomberg reported citing sources. No details on the
number of staff to be cut were reported. However the bank does not plan to cut jobs in Mexico, a location
it considers a priority along with Brazil, Bloomberg said citing
one of the sources. The company will continue to invest in more
profitable businesses in Latin America, Bloomberg said. Deutsche Bank could not immediately be reached for a comment
outside regular business hours. The bank has made 2014 a make or break year as it cuts costs,
slashes its balance sheet and works through a long list of
scandals. (Reporting by Karen Rebelo in Bangalore; editing by Cynthia Osterman) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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