BANKING
Deutsche Bank lets loose plan to slashes jobs in US
Amsterdam — Deutsche Bank is cutting dozens of employees and consolidating space at its Chicago office as part of a broader plan to shrink US operations, according to people briefed on the matter. The lender’s Chicago office — which houses units including front-office trading, operations and the treasury — will be reducing headcount, said the people, who asked not to be identified discussing staff matters. Some operations staff were being offered the choice of losing their jobs or relocating to Jacksonville, Florida, they said. Troy Gravitt, a spokesman for the bank, declined to comment on the firm’s plans for the office. Operations functions hosted there include those for listed derivatives and supporting trading at the Chicago Mercantile Exchange and Chicago Board of Trade. Corporate finance and corporate banking teams have not been affected by the cuts and will maintain a sizeable presence in the city. Earlier in 2018, Deutsche Bank said it would scale back its US operations, as ...
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