Deutsche Bank is cutting several senior jobs in its investment banking business in Dubai, including directors, as it cuts costs to adapt to a tougher investment banking environment globally, three banking sources said.
The German lender last week outlined plans to cut bonuses, axe more jobs and sell assets, and senior executives said expected job cuts would be "over and above" the 1,900 positions already announced.
"There are at least seven people confirmed to be leaving front office roles (in Dubai)," said a source familiar with the matter, adding the jobs were mostly in the investment banking business.
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