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.

globebusiness Surprising given the billons in laundered money filtered through this company.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Germany’s Deutsche Bank and Commerzbank go public on merger talksGovernment pushes union of Deutsche Bank and Commerzbank but critics say it would just create one bigger bank with the same problems
Herkunft: globeandmail - 🏆 5. / 92 Weiterlesen »

Deutsche Bank, Commerzbank shares up despite merger concernsShares in Deutsche Bank and Commerzbank have risen despite widespread skepticism about the merits of a possible merger between the two German lenders.
Herkunft: CTVNews - 🏆 1. / 99 Weiterlesen »