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

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 92%

United States News News

United States United States Latest News,United States United States Headlines

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

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: globeandmail - 🏆 5. / 92 Read more »

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.
Source: CTVNews - 🏆 1. / 99 Read more »