Deutsche Bank merger discussions put U.S. employees on edge

A flag bearing the Deutsche Bank AG logo flies outside the German bank's New York offices on Wall Street on Oct. 7, 2016.Deutsche Bank AG’s merger talks with Commerzbank AG have put its 10,000 U.S. workers on edge, three employees told Reuters, with some concerned a deal could pressure Deutsche to further shrink or even dispose of its U.S. businesses.

Both banks have cautioned that the outcome of the talks remains uncertain, and the process could drag on for months. In the meantime key employees could decamp to rival Wall Street banks and hedge funds, further weakening a business that has underperformed for years. Several executives have left the bank’s U.S. operations in recent months.

After the 2007-2009 financial crisis, Deutsche maintained a large presence on Wall Street, even as European rivals like Credit Suisse Group AG made big cuts to U.S. investment banking operations. Cutting more jobs in the United States would not provoke the same political pushback that the two banks would face if they axe jobs in Germany, banking analysts say.

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