Deutsche Bank to Trim Coverage in Asia Equities Business
- Bank is said to cut staff in onshore sales, derivatives
- Plans to focus on prime finance clients, electronic business
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Deutsche Bank AG is cutting onshore sales and derivatives coverage in individual markets across Asia-Pacific as part of a restructuring of its equities business in the region, according to a person familiar with the matter.
The move will involve unspecified staff reductions, the person said, requesting anonymity because the changes haven’t been announced. The German bank plans to focus on its larger clients and its electronic equities business in the region, according to an internal memo seen by Bloomberg News.