Goldman Sachs and Deutsche Bank return London staff to home working November 2, 2020 Goldman Sachs and Deutsche Bank are to return non-essential staff in their London offices to home working ahead of the introduction of a new coronavirus lockdown in England on Thursday. Several major banks had been encouraging staff to return to their London offices in recent months following the relaxation of initial lockdown measures, but news [...]
Deutsche Bank swings to surprise profit in third quarter October 28, 2020 Deutsche Bank reported a surprise profit for the third quarter this morning despite its ongoing restructuring and the impact of the coronavirus pandemic. The lender posted a profit of €309m as its net revenues grew 13 per cent year-on-year to €5.9bn during the quarter. It saw profit attributable to shareholders rise to €182m, compared with [...]
Deutsche Bank ‘in talks to sell IT unit’ as cost-cutting continues October 22, 2020 Deutsche Bank is reportedly in talks to sell a IT services unit to Tata Consulting Services (TCS), one of Asia’s biggest software exporters, as the lender continues a cost-cutting programme. Talks about the sale of Bonn-based Postbank Systems to TCS are expected to result in a deal for the division by the end of the [...]
Nomura signs up Deutsche Bank veteran as chief risk officer in London October 5, 2020 Japanese investment bank Nomura has lured Aisling Doyle away from Deutsche Bank to oversee all risk-related matters at its Europen investment arm. Doyle will be based at Nomura’s office in the City, reporting directly to the global group’s chief risk officer, Sotaro Kato, as well as to Jonathan Lewis, CEO of Nomura’s European division and [...]
Deutsche Bank to change work-from-home policies permanently in bid to reduce office costs September 25, 2020 Deutsche Bank is set to make flexible working policies permanent to allow staff to work from home on a set number of days per week. Like other lenders, Deutsche Bank has discovered during the pandemic that reducing office space could be a viable way to lower costs. Chief executive officer Christian Sewing said the board [...]
Deutsche Bank warns of material impact from coronavirus pandemic March 20, 2020 Deutsche Bank has warned that the economic fallout from the coronavirus pandemic may affect its ability to meet financial targets as the lender undergoes a radial overhaul following years of losses. The warning is the first time Germany’s largest bank has publicly expressed concerns over the impact of the outbreak, which has disrupted Deutsche’s operations [...]
Deutsche Bank under pressure from UK regulator over compliance failings March 2, 2020 The British financial regulator has criticised Deutsche Bank for failing to improve its compliance and anti-money laundering controls, and warned this could threaten the lender’s access to the UK post-Brexit. Bank of England regulators have told the German lender they now require monthly updates, as opposed to typical quarterly meetings, according to the Financial Times. [...]
Deutsche Bank taps US tech giants to help with overhaul efforts February 11, 2020 Deutsche Bank has reportedly invited bids from Google, Microsoft and Amazon to overhaul its outdated technology networks as part of a wider turnaround effort by the German lender. Deutsche approached the US tech giants as part of a €13bn (£11bn) technology investment it has planned up to 2022 as it seeks to recover from years [...]
Deutsche Bank’s plans to simplify corporate structure win regulatory backing February 11, 2020 Deutsche Bank’s plan to simplify its complex corporate structure in Germany has won the backing of local and European regulators, in a boost for boss Christian Sewing’s turnaround plan for the German lender. Under the plans, Deutsche will eliminate the separate legal entity that houses its domestic detail operations, known as Deutsche Bank Privat- und [...]
Deutsche Bank adds investment giant Capital Group as major shareholder February 6, 2020 Deutsche Bank has welcomed Capital Group as a major shareholder after the Los Angeles-based investment giant has bought a 3.1 per cent stake in the German bank. The investment, disclosed in a regulatory filing, makes Capital — which managed $1.8 trillion— one of Deutsche’s largest shareholders. It also marks the first major new shareholder in [...]