Deutsche Culls Senior Management
Deutsche Culls Senior Management
In an attempt to meet challenging cost: income targets, Deutsche Bank has culled 111 senior managers. The retail and private bank is seeking to lower the ratio from 77 per cent to 60 per cent. It has decided to merge three layers of management into one and dispense with the services of eight per cent of its managing directors and directors. The bank will also close three hundred branches and cut external consultants.