Deutsche Bank fires US and Asian investment bankers

Drin another meaning German Bank According to information from FAZ, about 36 investment bankers have launched in the United States and Great Britain. A small percentage of layoffs also relate to locations in Asia. A Deutsche Bank spokesman declined to comment. Previously, there were similar reports in the American media.

In recent days, major American banks such as JPMorgan and Bank of America (BofA) reported a decline of nearly 50 percent in investment banking fee income in the third quarter. At Goldman Sachs, which, like HSBC, Berenberg and Royal Bank of Canada, laid off investment banking workers earlier this year, In fact, revenue increased by 57% compared to the third quarter of 2021 return.

Analysts estimate that Deutsche Bank’s earnings from advising companies on mergers and acquisitions (M&A) and from issuing shares and bonds also fell 50 percent in anticipation of the quarterly report due on October 26. In the case of Porsche, Germany’s largest initial public offering this year, Deutsche Bank had to face US competitors BofA, Citigroup, Goldman Sachs and JP Morgan Leave the most profitable places. Because of the protection against dismissal, which prevents rapid layoffs in this country, the team will remain in Frankfurt initially. But there could also be adjustments here if the downturn in the investment business continues undesirably.

On the other hand, Deutsche Bank deliberately wants to reduce its funding to the companies most harmful to the climate. She gave herself goals for this Friday. By 2030, customers in the oil and gas sector must reduce the CO2 financed2Reduce emissions by 23 percent and 90 percent by 2050, utilities by 69 percent and 100 percent, and steel customers by 33 percent and 90 percent.

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