Deutsche Bank is cutting staff in London

eFC logo

Now that bonuses have been banked at Deutsche, staff there are free to leave of their own accords. That is, presuming that they don't get ejected by Deutsche Bank first. 

Insiders say DB has been making cuts in London this week. They're not big cuts - more like tiny little scratches. Around three people are thought to have been put at risk in the bank's debt capital markets and solutions business. 

One of those understood to be looking at his options is David Campos e Cunha, a director on the financing and solutions team. E Cunha had been at Deutsche Bank over nine and a half years after joining from Barclays in 2009. He's understood to have covered Portuguese clients at Deutsche Bank and didn't respond to a request to comment on his situation. 

If Deutsche Bank merges with Commerzbank, bigger job cuts may yet ensure. Commerzbank cut its own investment bank to the bone after the financial crisis of 2008 and research firm Tricumen says that Deutsche's costs account for an abnormally high proportion of revenues in most markets in which it operates. Commerzbank's investment bankers are wary too: "Morale here is terrible," says one. 

Have a confidential story, tip, or comment you’d like to share? Contact: in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Related articles

Popular job sectors


Search jobs

Search articles