Deutsche Bank’s Sewing starts to fray over tailor-made suits
Some London staff bought bespoke, £1,500 suits, which Sewing said doesn't reflect the bank’s values, as he laid off 18,000 traders
Frankfurt am Main — Deutsche Bank CEO Christian Sewing was forced to personally rebuke managers who ordered tailors to their London office as thousands of traders were let go on Monday, after details of the pricey suit-fitting were revealed in the media.
“I can’t understand that someone would call tailors to fit suits on Monday. On the same day, we had to tell many colleagues in share trading that they had to leave,” Sewing told German business daily Handelsblatt in its Friday edition.