Deutsche Bank’s supervisory board is shaking up its executive line-up again with the news that Kim Hammonds will be officially stepping down from her post as chief operating officer (COO) as of the bank’s Annual General Meeting (AGM) on May 24. Hammonds has been with Deutsche Bank since 2013 when she joined as co-head of… Read More >>
New Deutsche Bank CEO to Snap the Line
Deutsche Bank’s supervisory board is replacing CEO John Cryan after less than three years on the job, following persistent losses for the German banking giant, and citing the need for “a new execution dynamic in the leadership of our bank.” The bank is hoping that Christian Sewing will snap the line and bring a new… Read More >>
No Bonus Again for Deutsche Bank Execs
It appears that a CEO of a major, global bank is suggesting that for the second consecutive year executive managers do not exactly deserve a bonus. By contrast, the CEO is indicating that the rank and file employees should get one this year. John Cryan, the CEO of Deutshe Bank, made these declarations last week… Read More >>
Brexit-Born Bank Exodus Begins
Frankfurt and Dublin are emerging as the favorite hotspots for foreign banks as United Kingdom and continental European negotiators hammer out a Brexit deal by March 2019. Although many observers believe that the Brexit process will take longer than the earmarked two-year period, there has been a spate of announcements because banks, fund managers, insurers… Read More >>
Deutsche Bank Trims Bonuses for 25% of Staff
With an eye toward future profits, Deutsche Bank’s top managers are scaling back on bonuses after multi-billion dollar settlements with regulators and announcing aggressive yet profit-gouging layoffs and other cost-cutting measures. One of the silver linings from the bad bonus news is that the bonus ban will impact only 25 percent of the firm’s employee… Read More >>
Rabobank to Slash 9,000 Jobs — Many from the Back Office
With the layoff of 9,000 employees, European cooperative Rabobank has joined a growing line of banks making large-scale redundancies in 2015 as the industry faces tighter capital requirements, among other pressures. Rabobank, a Dutch co-operative bank that is active in 40 countries, announced details of a new strategic direction on Dec. 9, 2015 that it… Read More >>
Deutsche Bank’s Radical Revamp to Slash 35,000 Jobs
Deutsche Bank will be laying off approximately 35,000 employees, overhauling key parts of its ”outdated” IT infrastructure and exiting major securities businesses as part of its Strategy 2020 plan, according to a statement from the bank and a memo from John Cryan, co-CEO of Deutsche Bank, both released Oct. 29. The layoffs will come from… Read More >>
