Deutsche Bank to cut 75 global markets jobs
Deutsche Bank is set to cut around 75 jobs within its global markets division in London and New York, according to one person with knowledge of the information. The cuts will fall predominantly within the bank's fixed income and currencies sales and trading business, the source said. Staff are being notified today, the source said. "We are restructuring our FIC business to make it more suited to future market demand," a spokesperson for Deutsche said in a statement. The latest round of cuts come after a series of previous restructuring programmes at the German bank over the last few years.
Meanwhile, Deutsche Bank has appointed Jamal Al Kishi as its chief executive for Middle East and Africa and Salah Jaidah as chairman for Middle East and North Africa (Mena), the lender said Tuesday. Al Kishi, who will remain CEO of Deutsche Securities Saudi Arabia, will replace Ashok Aram with immediate effect. Aram has relocated to Frankfurt to become the chief executive for Europe, Middle East and Africa, excluding Germany and the UK, the bank said in an emailed statement.