Deutsche Bank quietly hiring 250 technologists in the U.S.
The last time Deutsche Bank’s technology staffing strategy made the news was last week, when it seemed the German bank was readying to make 27% of its global technology staff redundant. Those layoffs may still be afoot, but the Deutsche technology tale seems to be about more than hacking away at the existing cost base.
Instead of simply culling technology staff, various reports suggest that Deutsche is also adding them. 250 jobs are being created at Deutsche’s ‘software application development centre’ in North Carolina and the bank is reportedly investing $9m in the centre in the next two years. Traditionally, Deutsche has relied heavily upon Indian development talent. However, when new chief executive John Cryan joined the bank in July, he complained of inefficiencies, bureaucracy and antiquated technology. It now looks like the bank is investing in developers who are at least slightly closer to Wall Street.
Separately, an ex-Goldman analyst who had the same kind of cancer that Lloyd Blankfein is suffering from, has written a letter underscoring the humanity of the man behind the CEO. “In June 2009, when I had been with Goldman for 1.5 years as an intern, I was diagnosed with leukemia and lymphoma. I needed a bone marrow transplant to survive,” writes Seun Adebiyi. “Lloyd wrote me a personal letter while I was going through chemo at Sloan Kettering, telling me how much he believed in me…Lloyd has shown tremendous compassion and leadership throughout his career, especially when lives were at stake. It is my deepest wish that he now receive the same whole-hearted support, resources and encouragement that he gave me.”
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Quote of the Day
“Business is a noble vocation.”
Pope Francis during his address to Congress.